Here’s what gets cheaper and costlier after the Union Budget: Full list that affects your daily life

As Finance Minister Nirmala Sitharaman presents her ninth consecutive Union Budget with the vision of ‘Viksit Bharat 2047’, changes in duties and taxes are set to reduce prices of several essentials while making some items more expensive.

Finance Minister Nirmala Sitharaman on Sunday created history by presenting the Union Budget for the ninth time in a row. Framed around the long-term vision of ‘Viksit Bharat 2047’, the budget brings a mix of relief and burden for the common man, with prices of several everyday goods expected to fall, while a few items and activities are likely to become costlier due to tax and duty changes.

The government has announced multiple customs duty cuts aimed at lowering the cost of essential goods and promoting domestic manufacturing. As a result, prices of several important items are expected to come down in the coming months.

Medicines are among the biggest beneficiaries. Seventeen critical drugs used for cancer treatment, along with medicines for diabetes, are set to become cheaper, offering relief to patients dealing with long-term healthcare expenses. Leather products, including leather footwear, are also expected to see a price drop due to duty reductions.

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The textile sector has received a push through export-focused incentives, which is likely to reduce prices of garments and ready-made clothing in the domestic market. In the electronics segment, microwave ovens are expected to be available at lower prices. Green energy and clean mobility also get a boost, with electric vehicle batteries and biogas-blended CNG becoming cheaper.

Travel-related expenses are likely to ease as well. The cost of foreign travel is expected to reduce, and prices of aircraft manufacturing components have been cut, which may help airlines manage costs better. Solar panels and related equipment will also become more affordable, supporting renewable energy adoption. Additionally, seafood, foreign tour packages, overseas education expenses, smartphones, sports goods, lithium battery components, and imported items for nuclear power projects are expected to get cheaper.

However, not everything brings relief. Some products and activities will become costlier following duty hikes and stricter tax provisions. Alcohol prices are expected to rise due to increased duties, impacting consumers directly. Tobacco products such as cigarettes and pan masala will also become more expensive.

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Prices of certain minerals and scrap materials are likely to go up, which may impact industries dependent on raw materials. Financial penalties have been tightened for misreporting income tax and failing to disclose movable assets. Further, stock options trading and futures trading will attract higher costs, affecting market participants.

Despite global economic uncertainty and challenges such as high tariffs imposed by the United States, the government has emphasized strengthening India’s economy. With strong focus on manufacturing, healthcare, and cost-of-living relief, the budget aims to lay a solid foundation for achieving the goal of making India a developed nation by 2047.