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Budget 2021: Now buying gold and silver will be cheaper, more will have to be paid for AC, refrigerator
The proposals made in the budget will make items like refrigerators, LED lights, and mobile phones used in homes expensive.
Union Budget 2021: Finance Minister Nirmala Sitharaman has presented the budget 2021-22 in the Lok Sabha. The proposals made in the budget will make items like refrigerators, LED lights, and mobile phones used in homes expensive.
Finance Minister Nirmala Sitharaman proposed to increase the customs duty on imported components in the budget presented on Monday. However, with the rationalization of customs duty on gold and silver imports, these precious metals will be cheaper.
List of imported goods which are expensive due to budget proposal: –
Compressor and printed circuit boards for refrigerators and air conditioners such as parts, raw silk and cotton, solar inverters and lanterns, vehicle windscreens, wipers, signal equipment, PCBA, cameras, modules, connectors, back covers, mobile phones Appliances, mobile phone charger parts, raw products used in lithium-ion batteries, printer’s units and ink spray nozzles, finished leather products, nylon fibers and threads, plastic builder ware, carved synthetic stones.
Imported cheap goods:
Non-ferrous metal (gold door) made of gold, silver, and silver non-ferrous metal (silver door), platinum, and palladium, medical equipment imported by international organizations, and diplomatic missions.
Boost in the stock market due to budget
The budget that boosted economic growth sent renewed enthusiasm in the stock market on Monday and the market recorded a strong jump, leaving behind a six-day decline. In the budget, it has been proposed to spend more on infrastructure, health services and agriculture sector, while avoiding increasing tax rates.
This led to its second-biggest jump in key stock indices, backed by spirited buying. The 30-share sensitive index Sensex of the BSE had reached a day high of 48,764.40 points. At the end, it closed at 48,600.61 points with a gain of 2,314.84 points or five percent. This was the second biggest jump of the Sensex and was the best day in nearly 10 months.