Budget 2022: Here's what's cheaper and what’s costlier

As proposed by Sitharaman, a large number of commonly used items, including mobile phones and chargers, are set to become cheaper.

Custom duty on cut and polished diamonds and gemstones have been reduced to 5 per cent. The FM also proposed to phase out more than 350 customs duty exemptions over time.

Also read: Budget 2022 analysis by The Federal: Live discussion with experts

Sitharaman announced an extension of the exemption on implements and tools for the agriculture sector manufactured in India.

CHEAPER

Clothes

Gem stones and diamonds

Imitation jewellery

Mobile phones

Mobile phone chargers

Custom duties on chemicals needed for petroleum products

Custom duties on certain chemicals, including methanol

Concessional customs duty on steel scrap extended for 1 year

COSTLIER

All imported items

Digital assets that are transferred to be taxed

Duty on umbrellas