Friday, February 26, 2010

[Hum-Our-Tum] Find out how what's cheaper and what's costlier after the Budget 2010

Posted by Sarah Kathy at 8:26 AM

 

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Find out how what's cheaper and
what's costlier after the Budget 2010..


Finance Minister Pranab Mukherjee presented the Union Budget 2010-11

in parliament on Friday. While the finance minister made the tax payers

happy by providing more tax relief, he made the smokers and potential

car buyers unhappy by raising the excise duty on cigarettes and cars.



However, the proposed hike in excise duty on petroleum and the consequent

increase in the prices of petrol and diesel will have a cascading effect on prices

of almost all goods as transportation costs will rise.


The proposal to increase petroleum prices stirred a hornet's nest in Parliament

on Friday with the entire Opposition staging a walkout in the Lok Sabha and

warning that they will not allow Parliament to run till a rollback is announced.

The Opposition said this move would lead to rise in prices of all commodities.

What effect is the Budget going to have on your daily life?


Find out how what's cheaper and what's costlier after the Budget.


1) Mobiles to be cheaper:



Mobiles and mobile accessories will be cheaper on account of some

tax concessions offered on these items by the finance minister. 


Image: A child playing with a mobile phone.
Photographs: Reuters



2)Car makers hike prices:

Major auto makers in the country on Friday reacted to the government's

decision to increase the central excise duty to 10 per cent by saying they will

increase car prices -- possibly by up to Rs 25,000.


While the country's largest car maker, Maruti Suzuki India, said its car will

become costly by two per cent, Hyundai Motor India said it will result in a

price rise of Rs 6,500-25,000 on average.


"Car prices will go up by about two per cent. This is essential to offset the

increase in central excise duty announced by the finance minister today,"

MSI chairman R C Bhargava said.


The government on Friday increased the central excise duty by two per cent

to 10 per cent, partially rolling back the cut made earlier.


Meanwhile, a Hyundai Motor spokesperson said: "We will be forced to hike

our prices by Rs 6,500 to Rs 25,000." Volvo Auto India also said that the

increase in excise duty will result in increase of price of its cars



3)Set top boxes to be cheaper:


Following the announcement of the Union Budget for 2010-2011, set top boxes

will be cheaper on account of tax concessions offered by Finance Minister Pranab Mukherjee.



4) Television sets to be costlier:

Consumers will have to pay more for television as the government announced

on Friday hike in excise duty as part of a partial roll back of stimulus measures

announced for reviving the economy.


Finance Minister Pranab Mukherjee announced this while presenting the

Union Budget for 2010-2011 in Parliament on Friday.



5) Cigarettes to cost more:

Think twice when you light up your cigarette this evening.

Apart from affecting your health, it will also burn a hole in your pocket.

For, as a direct fallout of the Union Budget announced on Friday,

consumers will have to pay more for cigarettes.



Gold and silver to be more expensive

Post Budget, consumers will have to pay more for gold and silver.

This is because Finance Minister Pranab Mukherjee announced hike

in excise duty as part of a partial roll back of stimulus measures

announced for reviving the economy.



Image: Gold jewellery.
Photographs: Reuters

6) Hike in petro prices:

Petrol and diesel prices are to go up by Rs 2.67 a litre and Rs 2.58 a litre

respectively in Delhi from midnight on Friday, said government officials.


This resulted from the proposed changes in duties related to petroleum products

in the Union Budget presented by Finance Minister Pranab Mukherjee in the

Parliament on Friday.



7) Air travel to become costlier:


Air travel on all classes in both domestic and international sectors is likely

to become costlier with the government expanding the scope of air transport

services to attract service tax.


"The scope of air passenger transport service is being expanded to include

domestic journeys and international journeys in any class,"
said the memorandum explaining the provisions of the 2010-11 Finance Bill,
presented by Finance Minister Pranab Mukherjee in Parliament today.





Image: Air India aircraft.
Photographs: Punit Paranjpe/Reuters
Photographs: Rupak De Chowdhuri/Reuters




 

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