Finance Minister NirmalaSitharaman presented her seventh Union Budget for the financial year 2024-2025. This budget has led to several changes in the prices of various items. Here’s a breakdown of what has become cheaper and what has become more expensive for consumers.
What Will Be Cheaper
Gold and Silver Rods and Strings
The prices of gold and silver rods and strings have been reduced. This is good news for those involved in jewelry making and other industries that use these materials.
Coins of Precious Metals
Coins made of platinum, palladium, osmium, ruthenium, and iridium will also see a price drop. Collectors and investors in these precious metals will benefit from this change.
Polyethylene for Orthopedic Implants
All types of polyethylene used in the manufacture of orthopedic implants will be cheaper. This could lead to lower costs for medical procedures involving these implants.
X-ray Tubes and Flat Panel Detectors
X-ray tubes and flat panel detectors, including scintillators, used in the manufacture of X-ray machines for medical, surgical, dental, or veterinary use will see reduced prices. This can potentially lower the cost of medical diagnostics and treatment.
Imported Cellular Mobile Phones and Chargers/Adapters
Imported mobile phones and their chargers or adapters will become more affordable. This will benefit consumers looking to buy new smartphones and accessories.
What Will Be Expensive
PVC Flex Films
Poly vinyl chloride (PVC) flex films, also known as PVC flex banners or PVC flex sheets, will become more expensive. This might impact advertising and marketing sectors that rely on these materials.
Big Umbrellas
The cost of big umbrellas is set to rise. Consumers may need to pay more for these protective items, especially during the rainy season.
Laboratory Chemicals
Laboratory chemicals will become costlier, affecting research institutions and industries that depend on these chemicals for various processes.
Solar Glass and Tinned Copper Interconnects
Solar glass used for manufacturing solar cells or modules and tinned copper interconnects for the same purpose will see a price increase. This could impact the cost of solar energy installations.
Conclusion
The Budget 2024 has introduced several changes in the prices of everyday items, impacting consumers and industries alike. Gold and silver rods, precious metal coins, and medical equipment components are among the items that will become cheaper.
On the other hand, PVC flex films, big umbrellas, laboratory chemicals, and certain solar manufacturing materials will become more expensive. This seventh budget by Finance Minister NirmalaSitharaman aims to balance various economic factors while addressing consumer needs.
