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Budget 2019: A Roundup of Products that Got Costlier

  • Highlights

  • Budget 2019 was presented on July 5, 2019

  • Items like split ACs and loudspeakers will now cost more

  • You can shop for ACs affordably from the EMI Network

  • Bajaj Finserv allows you to shop on No Cost EMIs instantly

The much-anticipated Budget 2019 was presented by Finance Minister Nirmala Sitharaman on 5 July 2019, where the key highlights were no change in the tax slabs or taxation amount, and the interchangeability of PAN card and Aadhaar card. As over 120 crore Indians have an Aadhaar card, this move means that they can file their taxes by simply stating their Aadhaar number and also use it in other instances where PAN is typically required. For MSMEs, respite came in the form of a 25% corporate tax rate for companies whose turnover is up to Rs. 400 crore, as opposed to the earlier threshold of Rs. 250 crore.

While these Union Budget key highlights were received well by everyone, a focal point of any Budget is the items that have become more expensive and those that have become cheaper. For instance, electronics made in India are now more inexpensive, as are certain raw materials that are required by manufacturing units in India. Similarly, products by global giant Apple are likely to become more reasonable owing to simpler FDI norms for single-brand retail. On the other hand, here are some commonly-used products that are going to cost you more shortly.

On the other hand, here are some commonly-used products that are going to cost you more shortly.

  • Loudspeakers: because of an increase in custom duty from 10% to 15%

  • Marble: because of a 20% increase in import duty

  • Gold, silver and platinum: because of a 2.5% increase in custom duty

  • Petrol and diesel: because of an increase in excise duty and cess by Re.1/litre each

  • Optical fibres and cables: because of an increase in custom duty from 10% to 15%

  • Split air conditioners: because of an increase in custom duty from 10% to 20%

  • Digital video recorders: because of an increase in custom duty from 15% to 20%

  • Imported books: because of a custom duty of 5%

  • Ceramic and wall tiles: because of an increase in custom duty from 10% to 15%

While metals like gold and platinum are optional purchases, buying an AC, especially a split air conditioner that’s ideal for small, compact homes, is an unavoidable expense given the erratic weather and soaring temperatures. While the One Nation One Card initiative lowers expenses on one hand, the rising prices of loudspeakers and split ACs are sure to pinch your pocket.

In such a situation, it makes good sense to look for economical solutions to shop, whether it’s for a home appliance such as a split air conditioner or an entertainment device such as a loudspeaker. This is a sure-fire way of countering the increase in prices that the annual Budget 2019 highlights.

To make home appliances such as a speakers, digital video recorders, and split ACs more affordable, consider shopping from the Bajaj Finserv EMI Network. Just like the National Common Mobility Card launched by the government earlier this year helps you pay for all modes of transport through one card, the EMI Network allows you to shop for a range of products and services through its vast partner network without breaking into a sweat.

Best of all, because of instant financing of up to Rs. 4 lakh, you can shop for items that have become more expensive courtesy of Budget 2019 with ease. You can expedite access finance too by checking your pre-approved offer. This way you can not only shop for a top-of-the line split AC instantly, but also a range of other products and services, from fitness equipment and healthcare services to groceries and clothes.

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