Newspatrolling.com News cum Content Syndication Portal Online
A number of items are expected to become costlier after Union Budget 2025, but you can save money if you buy them soon
The Union Budget 2025 is one of the most awaited, as the economy seems to be facing some headwinds. There are also demands from individuals and businesses to reduce taxes. It appears that the government has to do a balancing act in this year’s budget.
From the perspective of the common man, the main focus is on which items will become costlier and which will become cheaper. To help you save money, let us take a look at some items that can potentially become costlier after Union Budget 2025. So, if you place your order soon, you can save quite a bit of your hard-earned money.
Luxury goods – It is possible that GST rates could be increased for luxury items. The government needs significant funding for its infrastructure development projects and welfare programs. Increasing taxes on luxury goods can help the government to generate the required funds. Luxury goods include various items such as high-end watches, luxury cars, jewelry and precious stones, designer clothing and accessories, luxury handbags, exclusive perfumes, luxury yachts, private jets and premium electronics and gadgets.
Tobacco and cigarettes – Similar to the trend seen in previous years, prices of tobacco products and cigarettes are expected to increase after Union Budget 2025. While using tobacco is not advisable, there are millions of people who use it on a regular basis. It is also true that rising prices of tobacco have forced many people to quit using tobacco or reduce the overall consumption amount. It is up to adults to decide what their choices are going to be.
Alcohol – Just like cigarettes, alcohol products are likely to become costlier after Union Budget 2025. Consumption of alcohol has skyrocketed in India. The increase in alcohol consumption can be seen across various income groups. However, if we look at per capita figures, India ranked quite low at 98th spot in terms of alcohol consumption. But considering the rise in alcohol consumption, it is likely that India could have moved higher in per capita alcohol use in recent years.
Gold and silver – It is expected that the government will increase import duties on precious metals like gold and silver. However, jewelers and bullion sellers want the government to introduce measures that can encourage people to buy more gold. For example, there is demand to allow people to buy gold via the EMI route. Bullion traders are also demanding reduction in import duties on gold dore. This will allow them to increase their profit margin.
Mobile recharge plans – All private telecom service providers have already increased mobile recharge rates last year. As telecom service providers need to expand their 5G networks and spend on 6G infrastructure, it is possible that mobile recharge rates may see a further hike. It may not happen immediately after the Union Budget 2025, but there is a strong possibility of price hike later this year.
If you make your moves now, you can save on items that are expected to become costlier after Union Budget 2025. However, it is recommended that you do your own research also before spending your money.
