With the Indian Budget 2023, people have aspirations and wishes are expected to be fulfilled. Due to the absence of major changes in the Indian income tax slab for a long time, it is expected from the last budget of this term of the government that relief will be provided to the public in the new slab area and tax relief will be given in rising inflation.
35 things will be expensive.
Before the budget, the government has prepared a list of 35 items on which customs duty, also known as custom duty, will be increased. The prices of these 35 items will see an increase in the coming time after the announcement of the budget. According to the report of Economic Times, it mainly includes jewelry electronics items, helicopters, private jets etc. Detailed details of all the items will be made available by the Finance Minister on 1 February.
What will be the effect on common people.
With the increase in customs duty, the imported mobile, TV and other electronics items will be costlier, the import of gold etc. will be costlier, as a result, the price of gold will also increase in the country. The upcoming AD-Diamond in India will also come under the ambit of this hike.
