New Delhi: A large number of commonly used items, including headphones, earphones, loudspeakers, smart meters, imitation jewellery, solar cells and solar modules will become more expensive due to a hike in customs duties on imported parts, as proposed by Finance Minister Nirmala Sitharaman in the Union Budget for 2022-23.
However, imported cut and polished diamonds, frozen mussels, frozen squids, asafoetida, cocoa beans, methyl alcohol and acetic acid will become cheaper as a result of rationalisation in customs duties.
Following is a list of imported items that will become costlier:
Umbrella, Imitation Jewellery, Single or multiple loudspeakers, Headphones and earphones, Smart meters, Solar cells, Solar modules, X-ray machines, Parts of electronic toys
However, certain goods will become cheaper as the government has slashed the customs duty. However, these items are not regularly used by the middle class. The utility of reduction of prices of these items will certainly not affect 90% of the citizens living in India.
Items that will cost less are
Frozen mussels, Frozen squids, Asafoetida, Cocoa beans, Methyl alcohol, Acetic acid, Cut and polished diamonds, Camera lens for cellular mobile phone, leather products like shoes and wallets.