Budget 2025: What gets cheaper and what gets costlier, all you need to know

During the 2025-26 Union Budget presentation Finance Minister Nirmala Sitharaman introduced multiple economic expansion measures which especially targeted agricultural development and micro small and medium enterprises and exports alongside investments. She stated that the budget will serve to expedite national development toward establishing “Viksit Bharat” (developed India).

Cheaper items

Several customs duty rates received modifications during the fiscal reform which subjected some items to lower costs but also made others more expensive. Customers will benefit from reduced customs duties for carrier-grade internet switches and LED/LCD TVs and frozen fish and marine products and many other items. The government has decided to eliminate basic customs duty taxes for essential medication used in cancer treatment along with rare disease medications. Fish paste (Surimi) and synthetic flavoring essences both received duty reductions through government action from 30% to 5% and 100% to 20% respectively. Ministries have recently cut the import duties on lithium-ion battery scrap and platinum findings together with zinc.

Costlier items

The government increased customs duties for interactive flat-panel displays to 20% from 10% and raised duty rates on knitted fabrics to 20% or ₹115 per kg, whichever exceeds. The government implemented these hikes to resolve the tax inversion issue within certain parts of the market.