New Delhi: The Union Budget presented by Finance Minister Nirmala Sitharaman has announced sweeping price changes across key sectors, offering relief to patients and manufacturers while making several luxury and imported goods more expensive.
In a major boost for healthcare, prices of 17 medicines, including those used for cancer and diabetes treatment, will be reduced. The move is expected to ease the financial burden on thousands of patients across the country.
The budget also proposes tax reductions on aircraft parts, microwave products, electric vehicle (EV) components, and solar panels, paving the way for lower prices. Consumers can also expect cheaper smartphones and tablets manufactured in India, along with reduced prices for certain imported personal-use electronic devices.
To strengthen the domestic leather industry, the government has announced duty-free concessions on imported inputs, a move seen as timely relief for leather companies facing challenges due to the 50 per cent tariff threat from the United States.
On the other hand, prices of luxury watches, imported liquor, cigarettes, pan masala, and gutkha are set to rise. Imported televisions, cameras, photography, and recording equipment will also become costlier. Additionally, the withdrawal of existing tariff exemptions is expected to push up prices of certain fertilizers.
The budget strikes a balance between public welfare and revenue generation, offering targeted relief in healthcare and manufacturing while tightening duties on luxury and harmful products.
