Union Budget 2025: Cancer medicines, mobile phones, clothes cheap, know here details
New Delhi:
Union Finance Minister Nirmala Sitharaman presented the budget in Parliament on Saturday for 2025-2026. This is the first full -time budget of Modi government 3.0. Nirmala Sitharaman has presented the budget for the 8th consecutive time. The Finance Minister has tried to take care of all sections in the general budget. The Finance Minister has abolished custom duty with many medicines.
Union Finance Minister Nirmala Sitharaman presented the General Budget of FY 2025-26 in the Lok Sabha on Saturday. There is a possibility of increasing the prices of many things due to the announcements made in the budget, while many things will also be cheaper. The government has announced to make the custom duty zero on capital goods used for companies making lithium ion batteries. This is expected to reduce the price of mobile phones and electric vehicles.
Many medical equipment, life saving medicines and cancer related medicines have been added to the list of zero basic custom duty. This will also reduce their prices. Basic custom duty has been cut by five to 20 percent on various categories of imported motorcycles.
Let’s know what happened cheap?
- 36 Cancer medicines.
- Medical equipment.
- LED will be cheap.
- Clothes made in India.
- Mobile phone battery.
- The cess has been removed from 82 goods.
- Leather jackets, shoes, belts, purse.
- EV vehicle.
- LCD, LED TV
- Handloom clothes.
The import duty of small and medium looms has been reduced to 7.5 to zero to promote domestic textile industry. This will encourage MSME in this area and expect the price of clothes to be reduced. Their products are also expected to be cheaper by giving zero the import fee on weight blue leather and crust leather.
In addition, television sets are expected to be cheaper by decreasing the duty on import of capital goods for open sales manufacturing for LCD/LED TV sets. The duty has been increased to 20 percent or Rs 115 per kg (whatever is more) on imports of different categories of prepared clothing. Apart from this, custom duty on interactive flat panel display has been increased from 10 percent to 20 percent. This will also increase their prices.
Budget is going to increase the expenditure capacity of common man: Finance Minister
Inaugurating the budget speech, the Finance Minister said that this budget will increase the ability of the common man to spend. Apart from this, he said that the aim of the budget is to increase the growth rate of the country’s economy, ensure inclusive growth and increase private sector investment, raise home spirit and increase the ability to spend the middle class by increasing. The Finance Minister said that in the budget 2025, 10 broad areas have been included, focusing on poor, youth, food donors and women. Agriculture, MSMEs, investment and export development are the engines. “The Limit of Kisan Credit Card (KCC) has been increased from Rs 3 lakh to Rs 5 lakh by the Finance Minister in the budget. This will help farmers to get cheaper loans.