Union Budget 2020: 10 things consumers should know

NEW DELHI: In an attempt to encourage national companies, Finance The minister, in her budget, announced an increase in customs duties on a variety of products ranging from crockery and kitchen utensils to appliances, footwear, furniture, stationery and toys. As a result, some products will cost more now. Here are 10 things that you as a consumer should know before making a purchase.

1. Attention parents! Your baby's health and happiness will cost more with the increase in customs duties on imported food and toys for babies. A can of Nestle Nan Pro that costs around Rs 1,200 is expected to cost Rs 1,340 now, and that pretty Barbie doll that costs around Rs 1,200 can burn her pockets for an additional Rs 800.

2. Are you a fitness fan? Nuts for mental health and footwear for physical health can become more expensive. A kilo of walnuts imported from California can cost around Rs 1,280 instead of around Rs 850, and Nike shoes can now cost around Rs 9,749 versus Rs 8,999.

3. Customs duty on the import of mattresses, sofa beds, LED lights and furniture has been increased. To furnish your dream home with the imported IKEA mattress that costs around Rs 51,990, you may now have to pay approximately Rs 54,349.

Live plus 4. If you take pride in your Virat Kohlilike look, be prepared to spend extra money on the preparation. Wahl S Star Cordless Magic Clipper, priced at around Rs 9,000, can cost around Rs 9,890 due to the increase in import tariffs on appliances such as a hair dryer, hair remover, cutter, shaver, irons and blowers.

5. ¿Desea un desayuno con queso gourmet y tostadas? Los productos lácteos importados, como la mantequilla, el ghee, el queso, los aceites comestibles y el suero de leche, así como los electrodomésticos de cocina como tostadoras, teteras, cafeteras, hornos, cocinas y tostadores ahora atraen aranceles plus altos. por 200 g de queso Kraft puede aumentar en aproximadamente Rs 21 desde Rs 400 y el precio de la tostadora Russell Hobbs importada probablemente se dispare en alrededor de Rs 649 desde Rs 6.499.

6. If you plan to buy imported 10gm Swiss gold coins worth Rs 44,000 for gifting this wedding season, be ready to shell out Rs 1,000 plus . Import duty on precious metal coins increased from 10% to 12.5%.

7. Do you like long trips and want to have green wheels? Customs duties have increased in imported cars and electric vehicles between 5% and 15%. Flaunting your new electric Hyundai Kona could delay it by around Rs 1.2 lakh at Rs 23.72 lakh 8 The medical device manufacturing sector in India receives a boost with the health tax on imports. It is likely that buying a hearing aid imported from Siemens that costs Rs 40,000 for your elderly father will cost approximately Rs 41,190 now.

9. Smoking is not only injurious to your health but also your wealth as taxes (as every year) have been increased on all cigarettes & tobacco products. A packet of 20 Gold Flake Premium cigarettes costing Rs 190 will cost you about Rs 10 plus .

10. Fancy crockery will now be available at fancier prices as custom duty rises on ceramic kitchenware! A Corelle dinner set worth Rs 5,000 may require you to pay about Rs 500 plus .

METHODOLOGY: we have taken the retail price of popular brands, factored into a tentative margin of the distributor and then we calculate the indicative cost of imported goods after considering the impact of Budget ads

Developed by EY

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