The new budget and the cost of products
The budget for the current financial year 2018-19 was released by the government yesterday.
The new policies will affect the prices of products and services in the country. Here is some general information about some product prices as per the new budget.
As per the Budget, Customs duty on mobile phones has been increased from 15% to 20%. Education cess has been increased from 3% to 4%.
Products used in daily life are expected to get expensive. Products such as Footwear, Vegetable, fruit juices, Cars and motorcycles, Smart watches/wearable devices, precious gems and metals, Furniture, fabrics and many more will now cost more.
Some products are also expected to be become cheaper as per the new budget. Furniture, Raw materials, parts or accessories used in making cochlear implants may now become cheaper.
The budget has raised many dissatisfactions in the public as most people feel it has not met their expectations.