Budget 2022: What gets cheaper and what's costlier – here’s a list

News Network
February 1, 2022

Union Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget for the fiscal year beginning 1 April. Infrastructure emerged as the topmost priority for the Narendra Modi government as the finance minister said that the budget for 2022/2023 will lay the foundation for economic growth through public investment as Asia's third-largest economy emerges from a pandemic-induced slump.

As proposed by the finance minister in the Union Budget for 2022-23, 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.

Custom duty on cut and polished diamonds and gemstones have been reduced to 5%, propose to phase out more than 350 customs duty exemptions over time, says FM Sitharaman.

The finance minister announced an extension of the exemption on implements and tools for the agriculture sector manufactured in India.

Here's is a list of items that will become cheaper and costlier in FY23:

CHEAPER

- Clothes

- Gem stones and diamonds

- Camera lens for cellular mobile phones

- Mobile phones

- Mobile phone chargers

- Frozen mussels

- Frozen squids

- Asafoetida

- Cocoa beans

- Methyl alcohol

- Acetic acid

- Chemicals needed for petroleum products

- Steel scrap

COSTLIER

- Umbrella

- Unblended petrol and diesel

- Imitation Jewellery

- Single or multiple loudspeakers

- Headphones and earphones

- Smart meters

- Solar cells

- Solar modules

- X-ray machines

- Parts of electronic toys
 

Comments

AJS BAJWA
 - 
Wednesday, 2 Feb 2022

A lacklustre affair.

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News Network
November 22,2024

Mangaluru: A man fell victim to an online scam, losing Rs 1.7 crore after fraudsters posed as officials from TRAI. According to a complaint filed at the CEN police station, the incident began on November 11, when the complainant received a call from an unknown number at 9:49 am.

The caller, claiming to represent TRAI, alleged that another mobile number registered under the complainant's name was involved in illegal activities in Andheri (East), Mumbai. The caller further stated that an FIR was lodged against the complainant for harassment under the guise of marketing. He was instructed to contact Andheri (East) police station immediately or risk his mobile service being deactivated within two hours.

The complainant was subsequently connected to an individual named Pradeep Sawant, who claimed the complainant was implicated in a money laundering scheme linked to the Naresh Goyal fraud case. Sawant alleged that a fraudulent bank account under the complainant's name was opened at Canara Bank, Andheri, and used to purchase a SIM card for illegal activities. He warned that the complainant could face arrest.

Later, the complainant was contacted via WhatsApp video call by individuals posing as Rahul Kumar (a police officer) and Akanksha (a CBI officer). They allegedly sent fabricated CBI documents to his WhatsApp number. The fraudsters demanded money to "resolve" the case. Fearing threats, the complainant allegedly transferred Rs 1.7 crore through RTGS in batches of Rs 53 lakh, Rs 74 lakh, and Rs 44 lakh between November 13 and 19. A case has been registered at the CEN police station and an investigation is ongoing.

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News Network
November 19,2024

mobile.jpg

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News Network
November 14,2024

srirang.jpg

Bengaluru: The Prime Minister Narendra Modi led union government has requested the Karnataka High Court to direct the Mandya district administration and the state government to clear a madrasa operating within the premises of the historic Jama Masjid in Srirangapatna.

The Waqf Board, opposing this move, has claimed the mosque as its property and defended the right to conduct madrasa activities there.

The matter was brought before a division bench headed by Chief Justice N V Anjaria following a public interest litigation filed by a person named Abhishek Gowda from Kabbalu village in Kanakapura taluk. The petition alleged “unauthorised madrasa activities” within the mosque.

Representing the Central government, Additional Solicitor General of India for High Court of Karnataka, K Arvind Kamath argued that the Jama Masjid was designated as a protected monument in 1951, yet unauthorised madrasa operations continue there.

He noted that concerns over potential law and order issues have so far prevented any intervention. Kamath urged the court to direct the Mandya district administration to take action and vacate the madrasa from the mosque.

In defence, lawyers for the state government and the Waqf Board contested this request, stating that the Waqf Board had been recognised as the owner of the property since 1963 and, thus, conducting madrasa activities there is lawful.

After hearing both sides, the bench adjourned the case for further arguments, scheduling the next hearing for November 20.

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