“Budget 2025: What’s Cheaper, What’s Pricier – Impact on EVs, Mobiles, and Medicines”
In the Union Budget 2025, Nirmala Sitharaman announced lower taxes on cancer medicines and some minerals, making them cheaper. However, telecom equipment will become more expensive due to higher taxes.
Key Highlights of Union Budget 2025:
- Tax Relief for Salaried Employees:
- No income tax for individuals earning up to ₹12 lakh per year.
- Customs Duty Reductions:
- Mobile phone chargers and cancer drugs to become cheaper.
- Gold & silver duties reduced to 6%, platinum to 6.4%.
- Basic customs duty (BCD) removed on ferronickel and blister copper.
- Customs Duty Increases:
- Flat panel display duties hiked from 10% to 20%.
These changes impact various industries and consumers, making some products cheaper while increasing costs for others.