The Union Budget 2025 has introduced several key changes in taxation and duties, impacting the prices of everyday essentials, technology, and automobiles. While some items will become more affordable due to tax cuts, others will see a price hike due to increased levies. Here's a detailed breakdown of what gets cheaper and what gets costlier post-Budget 2025.
What Gets Cheaper?
1. Electric Vehicles (EVs)🚗⚡
- The government has announced *lower GST rates and import duty cuts on EV components* to promote green mobility.
- Subsidies under the *FAME III scheme* and additional incentives for domestic battery production are expected to reduce EV costs.
2. Mobile Phones & Electronics 📱💻
- Custom duty reductions on semiconductor chips and lithium-ion batteries will lower the prices of smartphones, laptops, and other electronic devices.
- Make in India incentives for local manufacturing will further drive down costs.
3. Essential Medicines & Healthcare Products💊🏥
- The exemption of *GST on certain life-saving drugs and lower import duties on essential medical equipment will make treatments more affordable.
- *Reduced GST on generic medicines* is expected to benefit the common man.
4. Renewable Energy Products☀️🔋
- Solar panels and energy-efficient appliances will become more affordable due to lower GST and increased government incentives.
- Focus on sustainable development has led to tax cuts on green hydrogen and electric grid infrastructure.
What Gets Costlier?
1. Luxury Goods & Imported Items 🏎️💎
- Higher import duties on luxury cars, premium watches, and branded handbags to promote domestic alternatives.
- Gold and silver jewelry may also see a price increase due to higher customs duty on precious metals .
2. Processed Foods & Sugary Drinks🥤🍫
- The government has introduced a health cess on sugary beverages and high-calorie processed foods to discourage unhealthy consumption.
3. Tobacco & Alcohol 🚬🍷
- Excise duty hikes on cigarettes, tobacco products, and alcohol will lead to higher prices.
- Sin taxes continue to rise as part of health-conscious policy measures.
4. Fuel & Diesel Vehicle ⛽🚙
- Higher excise duties on petrol and diesel vehicles to push for EV adoption.
- Fossil fuel-based industries may face increased taxation due to the government’s push for a cleaner environment.
Conclusion
Budget 2025 focuses on *sustainability, affordability, and domestic manufacturing. While the common man benefits from **cheaper EVs, medicines, and electronics*, the luxury segment, processed foods, and conventional fuel-based vehicles will see a price hike.
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