Nirmala Sitharaman, our Finance Minister, came out with the Union Budget for the fiscal year 2024-25. In this, the prices of a number of products are to change, some to be lowered, and some to be increased. Here is a is a list of the key things changed up.
Items to Cost Less
Gold and Silver: Gold bars are less expensive, even the silver bars, and the coins got low.
Precious Metals: Coins, including those struck in platinum, palladium, osmium, ruthenium, and iridium, are cheaper now. Prices of polyethylene used for orthopedic implants will now be less. Medical Equipment: Prices of X-ray machines and accessories such as X-ray tubes and panel detectors that are used in the medical, surgical, dental, or veterinary field have been reduced.
Cellular/Mobile Phones: Import prices and their associated accessories like chargers and adaptors of cellular/mobile phones are now more affordable. PCBA for the manufacture of such phones has seen a decreasing price trend.
Solar Power Equipment: All components of solar cells and solar modules and supply equipment, including capital goods like machinery and parts thereof, have seen a decreasing price trend.
Aquaculture: Fish lipid oils are appearing at reduced prices to feed aquatic.
Natural Resources: Natural graphite, different types of sands, among others, quartz, lithium carbonate, lithium oxide, and potassium nitrate are now cheaper.
Steel Industry: The blister copper for the steel industry has been cheaper, as well as the ferro-nickel.
Items that are More Expensive
PVC Flex Films: The polyvinyl chloride flex films, especially the banners and sheets, are now expensive.
Large umbrellas: Large umbrellas are now expensive.
Laboratory Chemicals: A few laboratory chemicals are now expensive.
Solar Glass and Components: Prices of tin-plated copper used to make solar cells and modules and other related raw materials such as silver paste used in solar cells and solar modules have also seen a considerable upward trend.
Nirmala Sitharaman, the Finance Minister, has presented seven budgets, out of which five are full and one interim budget, making her the first and the female Finance Minister to record.
