Budget 2019: Details Of All That Is Cheap To Expensive
Home > News Shots > India newsThe government on Friday unveiled Budget 2019, which was presented by Union Finance Minister Nirmala Sitharaman. While presenting her maiden Budget speech today Sitharaman said the Indian economy had reached from $1.85 trillion to $2.7 trillion, and that the Centre had the target of taking it to $5 trillion by FY25.
According to Business Today report, the finance minister announced increase in the import duty on gold, which is likely to make the precious metal costlier for buyers. The prices of fuel are also likely to rise as the government has increased the excise duty on petrol and diesel.
On the other hand, the government proposed to reduce customs duty on certain raw materials and capital goods to promote domestic manufacturing. These include amorphous alloy ribbon, ethylene di-chloride, propylene oxide, cobalt matte, naphtha, wool fibres, inputs for manufacture of artificial kidney and disposable sterilised dialyser, and fuels for nuclear power plants, Business Today further reported.
Sitharaman also announced that the pension benefits would be extended to 3 crore retail traders under the Pardhan Mantri Karam Yogi Maan Dhan Yojana.
The first full-time woman finance minister further said how schemes such as BharatMala, Sagarmala and Udan were bridging rural urban divide and improving transport infrastructure. She added the government would restructure highways and the movement of cargo through the River Ganga.
Meanwhile, for power sector, the Finance Minster proposed 'One Nation One Grid'. Sitharaman also proposed the establishment of NSIL, a new commercial arm in the Department of Space to increase India's power in space and technology. Government is also considering to increase FDI in aviation and media, said finally stated Sitharaman.
Here are the list of things what has become expensive and cheaper;
- Expensive: Petrol, Diesel, Gold, Imported books, Digital camera, Cashew kernels, PVC, Vinyl flooring, Tiles, Metal fittings, Mountings for furniture, Auto parts, Certain kinds of synthetic rubbers, Marble slabs, Optical fibre cable, CCTV camera, IP camera, digital and network video recorders and Cigarette
- Cheaper: Electronic appliances and Electric vehicles
Finance Minister Nirmala Sitharaman: The Indian economy will grow to become a $3 trillion economy in the current year itself. It is now the sixth largest in the world. 5 years ago it was at the 11th position. #Budget2019 pic.twitter.com/SSPypa8ajC
— ANI (@ANI) July 5, 2019
Finance Minister Nirmala Sitharaman: The FAME II scheme aims to encourage faster adoption of electric vehicles by the right incentives and charging infrastructure #Budget2019 pic.twitter.com/kd02NanzvS
— ANI (@ANI) July 5, 2019
Finance Minister Nirmala Sitharaman: Direct tax collection increased by 78%; Tax collection rose from 6.38 lakh crore rupees in 2013-14 to 11.37 lakh crore rupees in 2018 pic.twitter.com/IP036NCXcc
— ANI (@ANI) July 5, 2019