Updated 16:20 IST, February 1st 2025
Union Budget 2025: What Gets Cheaper? Full List of Items
As Finance Minister Nirmala Sitharaman presents the Union Budget 2025, let's take a look at items which will become cheaper in the coming days.
Union Budget 2025: Finance Minister Nirmala Sitharaman is presenting the second Budget of Modi Govt 3.0 with the focus on poor, youth, annadata and women. The Finance Minister has announced a reduction of excise duty and other concessions as it will bring down prices of various good, items and services and provide relief to the common man. Let's take a look at items which will become cheaper in the coming days.
Union Budget 2025 | What gets cheaper
- Mobile phones and accessories
- LED and Marine products
- Fish Products – Basic Customs Duty (BCD) reduced from 30% to 5%
- Cobalt Powder – Fully exempted from customs duty
- Lithium Battery Scrap – Fully exempted from customs duty
- EV Battery Components (Lithium Iron Battery)
- Fisheries Industry – Special customs duty exemption introduced
- Certain Leather Items – BCD exemptions provided
- Cancer, chronic diseases – 36 life-saving drugs exempted from basic customs duty
- Raw material for ship manufacturing
Sitharaman presented Union Budget 2025-26, envisaging an expenditure of Rs 50,65,345 crore, an increase of 7.4 per cent over the current fiscal. The 2024-25 expenditure (Revised Estimates) is Rs 47.16 lakh crore.
According to Budget documents, Rs 5,41,850.21 crore has been earmarked for Centrally Sponsored Schemes for financial year starting April 1, 2025. This compares with Rs 4,15,356.25 crore for the current financial year.
For central sector schemes, Rs 16.29 lakh crore have been earmarked for FY26 as compared to Rs 15.13 lakh crore for 2024-25.
Budget estimates of expenditure for 2025-26 has increased due to several reasons, including rise in payment of interest on market loans, treasury bills, external loans, small savings and provident funds; higher requirements of Armed Forces including capital expenditure; and more provisions for employment generation scheme.
Total capital expenditure proposed for the next fiscal is Rs 11.22 lakh crore and effective capital expenditure of Rs 15.48 lakh crore.
Total resources being transferred to states, including devolution of states' share, grants/loans and releases under Centrally Sponsored Schemes, in Budget 2025-26 are Rs 25,01,284 crore, a rise of Rs 4,91,668 crore over actuals of 2023-24.
If resources of public enterprises are included, the total expenditure in Budget rises to Rs 54.97 lakh crore.
With inputs from PTI
Published 12:07 IST, February 1st 2025