Union Budget 2025: What Gets Cheaper & What Gets Costlier. Check Full List here

Budget 2025: Finance Minister Nirmala Sitharaman unveiled Modi 3.0's second Union Budget 2025-26 on Saturday, February 1, with its key focus areas on income tax slabs, boosting macroeconomic stability, and improving the ease of business. With today's budget, the finance minister's policy announcements have resulted in price reductions for several items.

Imported life-saving drugs and medicines used to treat cancer and rare and other severe chronic diseases, along with imported premium cars and motorcycles, are set to become cheaper with FM Sitharaman announcing cuts in customs duty in Budget 2025. Items such as interactive flat panel (touch screen) displays imported as fully built units and knitted fabrics will become costlier due to increased basic customs duties (BCDs).

Follow Live Updates: Budget 2025 Explained LIVE: Zero tax on up to ₹12.75L income - Nirmala Sitharaman proposes BIG relief for middle-class

The government also proposed fully exempting cobalt powder and waste and scrapping lithium-ion batteries, lead, zinc, and 12 more critical minerals. "This will help secure their availability for manufacturing in India and promote more jobs for our youth," said FM Sitharaman. To manufacture open cells of LCD/LED TVs, the government has reduced the customs duty on parts of open cells to 2.5 per cent. “To further boost the manufacture of such Open Cells, the BCD on these parts will now stand exempted,” said Sitharaman.

Budget 2025: Here's the list of what's become cheaper and dearer with Modi 3.0's second Union Budget-

Complete List of items that have got cheaper in Budget 2025

1.Life-saving drugs: Cancer, chronic disease medicines-- 36 life-saving drugs are fully exempted from basic custom duties

2.Electronic goods: Customs duty on open cell for interactive flat panel display, touch glass sheet, touch sensor for LED/LCD TVs reduced from 15 to five per cent

3.EV and phone batteries: The list of exempted capital goods will include 35 new goods for electronic vehicle (EV) battery production and 28 new goods for mobile phone battery production.

4.Fish and seafood: Customs duty on frozen fish paste (surimi) is reduced from 30 to five per cent. Customs duty on fish hydrolysate for the manufacture of aquatic feed is reduced from 15 to five per cent.

Also Read: Budget 2025: FM Sitharaman announces customs duty exemption on lithium-ion battery scrap, other critical minerals

5.Synthetic flavouring essences: Customs duty on mixtures of odoriferous substances used in food or drink industries reduced from 100 to 20 per cent

6.Waste and scrap of Lithium: Customs duty reduced on ion battery, lead, zinc, antimony, beryllium, bismuth, cobalt, cadmium, molybdenum, rhenium, tantalum, tin, tungsten, zirconium, and copper scrap reduced to nil

7.Cobalt powder: Customs duty reduced from five per cent to nil

8.Wet blue leather: Customs duty reduced from 10 per cent to nil

9.Shuttle less looms: Customs duty on rapier looms and air jet looms for use in the textile industry reduced from 7.5 per cent to nil

10.Mobile equipment: Customs duty on inputs/sub-parts of camera module, connectors, manufacture of wired headset, microphone and receiver, USB cable, fingerprint reader/ sensor of cellular mobile phone reduced from 2.5 per cent to nil

11.Space satellite equipment: Customs duty on goods used in the building of launch vehicles and launching of satellites, ground installation for satellites including its spares and consumables reduced to nil

12.Shipbuilding: Exemption on customs duty for ships and their parts extended for 10 more years.

13.Motorcycle imports: Customs duty on engine capacity not exceeding 1600 CC reduced to 40 per cent, semi-knocked down reduced to 20 per cent, and completely knocked down reduced to 10 per cent. Engine capacity 1600 CC and above reduced to 30 per cent.

Follow Live Updates: Income Tax Budget 2025 LIVE: Zero income tax up to ₹12 lakh in new tax regime; TDS and TCS tweaks in FM's budget

Complete List of items that have got costlier in Budget 2025

1.Knitted fabrics: Customs duty hiked from 10 to 20 per cent

2.Interactive flat display: Customs duty hiked from 10 to 20 per cent

3.Social Welfare Surcharge: Exemption removed on 82 tariff lines currently under cess.

Interestingly, Finance Minister Nirmala Sitharaman made history by presenting her eighth consecutive Budget today, surpassing the record of former Prime Minister and Finance Minister Morarji Desai. Sitharaman, who holds the record for the longest Budget speech delivered on February 1, 2020, which lasted two hours and 40 minutes before being cut short.