Union Budget 2023 Live Updates: What Gets Cheaper Or Costlier- Here’s a List

By WEB DESK Last updated Feb 1, 2023

Union Budget 2023: On February 1 today, Union Finance Minister Nirmala Sitharaman will deliver the last comprehensive Union Budget of the Modi administration before the 2024 Lok Sabha elections. The strategy is expected to boost funding for logistics, defense, and infrastructure, benefiting allied businesses. The first half of the Parliamentary Budget Session, which began on Tuesday, will end on February 13. The Parliament will reconvene on March 12 for the second half of the budget session, which will end on April 6.

Good news for taxpayers!

New personal income tax slabs have been announced in this year’s Budget. The new personal income tax rates are:

India: Govt Hospital Employee Loses Job…

WEB DESK

J&K: Stage set for Phase I as over…

WEB DESK

0 to ₹3 lakhs – nil
₹3 to 6 lakhs – 5%
₹6 to 9 Lakhs – 10%
₹9 to 12 Lakhs – 15%
₹12 to 15 Lakhs – 20%
Above ₹15 Lakhs – 30%

Budget 2023: What gets cheaper or costlier

Finance Minister Nirmala Sitharaman announced a host of increases and cuts in duties on several products, leading to rises or falls in the prices of several commodities. Here’s a list:

What Gets Cheaper

Customs duty on parts of open cells of TV panels cut to 2.5 per cent
Govt proposes to reduce customs duty on the import of certain inputs for mobile phone manufacturing
Govt to reduce basic customs duty on seeds used in manufacturing of lab-grown diamonds
Govt to reduce customs duty on shrimp feed to promote exports

What Gets Costlier

Taxes on cigarettes hiked by 16 per cent
Basic import duty on compounded rubber increased to 25 per cent from 10 per cent
Basic customs duty hiked on articles made from gold bars
Customs duty on kitchen electric chimney increased to 15 per cent from 7.5 per cent

Join Kashmir News WhatsApp Group (Direct Link)

News Categories

CLICK HERE TO: DOWNLOAD OUR MOBILE APPLICATION FOR LATEST UPDATES ON YOUR MOBILE PHONE

**Kashmir News is now on Telegram. Click here to join our channel(@thekashmirnews) and stay updated with the latest news on Telegram**

CLICK ON THE LINKS BELOW TO FOLLOW KASHMIR NEWS ON:

OUR APPLICATION IS ALSO LIVE ON GOOGLE PLAY STORE, DOWNLOAD MOBILE APPLICATION

Post Views: 989