Union Budget 2026-27: Discover What Becomes Cheaper and Pricier
The Union Budget 2026-27 was presented by Finance Minister Nirmala Sitharaman amidst global economic uncertainties. The budget includes measures intended to reduce the cost of certain goods while increasing expenses in other areas.
What’s Cheaper and Pricier in the Union Budget 2026-27?
The budget outlines significant changes. Some sectors will benefit from reduced costs, while others will see financial burdens increase. This article explores the key proposals affecting consumers.
Items Expected to Become Cheaper
- Sports Equipment: The launch of the ‘Khelo India Mission’ aims to enhance sports talent. The initiative is expected to improve the sports equipment sector.
- Leather Goods: Duty-free imports for specific components will be extended to leather goods manufacturing, benefiting producers.
- Cancer Medicines: Customs duty will be exempted on 17 cancer drugs. Additionally, seven rare diseases will receive similar exemptions.
- Seafood: The government announced duty-free fish catches beyond territorial waters to support local fishermen.
- Microwave Ovens: Basic customs duty will be waived on specific parts used in microwave oven production.
- Solar Panels: Exemptions on duty for imports related to lithium-ion battery cells are expected to lower solar panel costs.
- EV Batteries: Import duties on machinery for lithium-ion battery cell production will remain waived, fostering domestic manufacturing.
Sectors Likely to Experience Higher Costs
While some products will see decreased costs, several financial activities may become pricier. The proposed changes include:
- Trading Activities: Increased costs can be anticipated due to modifications in buyback taxation.
- Securities Transaction Tax (STT): Adjustments to STT will add financial burdens to certain transactions.
- Tax Collected at Source (TCS): Changes in TCS regulations signify a stricter compliance regime.
Conclusion
The Union Budget 2026-27 introduces a diverse range of measures that will impact consumers differently. Certain goods, especially in the sports, health, and renewable energy sectors, are poised to become cheaper, while investments and trading activities may become more costly. As the government enhances fiscal responsibility, understanding these changes will help consumers navigate the economic landscape.
