Commodity prices in the aftermath of the Budget 2016-17
DSIJ Intelligence / 29 Feb 2016
Post the intense budget analysis what holds important now to the day to day life of the average Indian is the cost of goods which offer value to our lives. Let's have a quick look at the commodities whose prices have increased and those that have managed to beat the rising inflation and have become more affordable.
Post the intense budget analysis what holds important now to the day to day life of the average Indian is the cost of goods which offer value to our lives. Let's have a quick look at the commodities whose prices have increased and those that have managed to beat the rising inflation and have become more affordable.
To begin with cigarettes, branded garments, cars, and air travel will become costlier; whereas solar lamps; routers; and footwear will turn out to be less expensive owing to a series of changes in the tax structure model of this year's budget.
Attributed to the additional levying of infrastructure cess and Krishi Kalyan on all services, processes like fine dining and bill payments will become costlier.
Following in the footsteps of his predecessors, the Finance Minister, Arun Jaitley, today levied upto 15 per cent excise duty on all products manufactured from tobacco.
Following is a list of items that will turn costlier:
1. Tobacco
2. Cigar
3.Cigarettes4.Cars
5. Gold and Silver; jewelery articles excluding silver
6.Goods and services above Rs 2 lakh in cash
7.Water including mineral water, aerated water containing added sugar or sweetening matter
8.All services like bill payments, eating out, air travel
9.Ready made garments and branded apparel of more than Rs 1,000
10.Legal services
11. E-reading devices
12. Industrial solar water heater
13.Ropeway, cable car rides
14.Imported imitation jewellery
15. Plastic bags and sacks
16. Aluminum foil
17. Gold bars
18.Traveling by hiring stage carriage
19.Imported Golf Cars
20. Air Travel
21. Instruments for VoIP (Voice over Internet Protocol)
22. Hiring of packers & movers
23. Lottery tickets
Following is a list items that will turn cheaper:
1. Sterilised dialyser
2.Low cost houses with less than 60 sq mt carpet area
3.Router, broadband modems and set top boxes, Digital video recorder and CCTV cameras
4.Hiring of folk artists for performance
5. Footwear
6. Solar lamp
7. Hybrid electric vehicles
8.Sanitary pads
9.Pension plans
10.Microwave ovens
11. Refrigerated containers
After taking this brief overview it becomes clear that the government is looking at upliftment of the weaker sections of society and luxury has been dominated by the bare necessities. A good move by the Namo government we must say, a populist budget for the poor, keeping an eye on the upcoming elections in 5 states, as is also evident from the rail budget announced last week, that missed out on fare hikes despite turbulent times.
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