Finance Minister Nirmala Sitharaman tried to lure domestic companies by announcing a hike in the custom duties in the Union Budget 2020-21. This however will make some of the imported products including kitchenware and electrical appliances expensive. Below are some important highlights from her budget speech:
Nestle Nan Pro will now cost Rs 1,340 instead of Rs 1,200 while to buy a pretty Barbie doll the parents need to pay additional Rs 800.
Walnuts will become expensive though we know it is consumed to improve mental health. California walnut was earlier priced tagged Rs 850, but now our pockets need to pay Rs 1,280 for it.
Similarly, footwear for physical health now may cost you more. Nike shoes comes at Rs 8,999 and with the new custom duty it will cost Rs 8,999.
Imported sofa bed, furniture, LED lights and mattresses will not be priced tagged higher. IKEA’s imported mattress to now cost Rs 54,349 instead of Rs 51,990.
Hair dryer, clipper, smoothing iron, blower, shaver, hair remover and other such imported appliances to cost more. This means the Wahl S Star Cordless Magic Clipper will now cost you Rs 9,890 instead of Rs 9,000.
Imported dairy products like cheese, edible oils, ghee and butter as well as imported kitchen appliances like ovens, cookers, roasters, coffee makers and toasters are to become expensive. Kraft cheese will cost Rs 21 more on its 200gm pack and Russell Hobbs toaster to cost Rs 649 more.
With the new import duty of 12.5percent levied on imported precious metal a 10gm of Swiss gold coin will now cost Rs 45,000 instead of Rs 44,000. Earlier the duty was 10 percent.
