Budget 2023: Cigarettes become more expensive after budget announcement, memes flood on Twitter

With the latest announcement of budget 2023-24 presented by Finance Minister Nirmala Sitharaman on Wednesday, taxes on cigarettes will be increased by 16%. For the past two years, there have been no changes in cigarette taxation but now the government has decided to hike NCCD (National Calamity Contingent Duty) on certain cigarettes. 

The cigarette taxation announcement certainly made a negative impact on cigarette manufacturers, particularly Godfrey Phillips India and ITC Ltd. The shares of both firms plummeted by more than 5%. 

(Also Read: New Income Tax Slabs explained: Who will pay zero tax? How much tax will you pay with Rs 9 lakh salary?)

According to analysts, a significant increase in tobacco taxes and stricter rules will not only ensure that citizens have better health, bringing out the finest in human capital but will also contribute to the realisation of Prime Minister Narendra Modi's goal of a $5 trillion economy by 2025.

Anyhow social media users quickly flooded the microblogging platform Twitter with memes and jokes about more expensive cigarettes. 

 

#cigarettes price hike

All smokers right now  pic.twitter.com/N3VuVPZ01P

— Shubham Jain (@Shubham09273730) February 1, 2023

Jitne #cigarettes ke rate badh rhe

Gold Flake ka ek ek drag sunar ki dukan pr milega pic.twitter.com/7SKcfUjfpF

— Sarcaster  (@sarcaster_) February 1, 2023

 

Indian smokers covering up the ground after watching the increased custom duty implemented on #cigarettes #Budget2023 #incometax pic.twitter.com/W4pjnLJBdX

— Membooda (@memebooda) February 1, 2023

 

After Increase in Rate of #cigarettes
Kabir singh to Lok sabha #ITC @AnilSinghvi_ @SandeepKrJainTS pic.twitter.com/ZSgmRn2N9A

— Bhavya (@iconic232001) February 1, 2023

Cigarette to other products during #Budget pic.twitter.com/XinRSA06kw

— Economist Sachya (@sachya2002) February 1, 2023

 

Cigarette smokers listening to budget waiting to know if prices have increased again.#Budget2023 pic.twitter.com/hzMryjxvad

— Pakchikpak Raja Babu (@HaramiParindey) February 1, 2023

 

pic.twitter.com/iFHOeg1UDv

— Mayank15 (@Sillymidofff) February 1, 2023

 

Smokers watching budget session. pic.twitter.com/BjiEveeZbW

— Sai Teja (@csaitheja) February 1, 2023

 

Sutte ka price badh gaya:#UnionBudget2023 #Budget2023 #BudgetSession #cigarettes pic.twitter.com/hIeDJUoalc

— Srishti Yadav (@_srishti_yadav_) February 1, 2023

 

"मोदी सरकार" #ModiHaiToMumkinHai #Budget2023 New Tax Regime

No income tax upto Rs 7 lakh#cigarettes price hike
Middle Class is very happy pic.twitter.com/tTSKTfQTMX

— Pooja Singh (@IamPoojaSingh2) February 1, 2023