Personal Finance
The Union Budget 2022 will result in a price hike for some items, while some commodities will get cheaper.
Updated : Jan 18, 2023, 05:45 PM IST | Edited by : Kajari Goswami
Union Finance Minister, Nirmala Sitharaman on Monday (Jan 16) presented the Union Budget for the financial year 2022-23 and announced to increase in the basic customs duty on many items which will lead to a hike in the price of some items, while prices of some commodities will see a dip. Many commonly used items such as mobile phones, chargers, and clothes will be available at a lower price. Even chemicals like methanol, acetic acid and heavy feedstocks for petroleum refining will also get cheaper.
While presenting the Union Budget on Tuesday, Sitharaman also informed that India is set to clock a growth rate of 9.2 per cent, which could be the highest in the world in the current fiscal. With a focus on four pillars of development — inclusive development, productivity enhancement, energy transition and climate action — the Budget give a blueprint of the economy from India at 75 to India at 100.
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Union Budget 2022: Items to get cheaper
Union Budget 2022: Items to cost more