What Will Be Cheaper After Budget 2025-26?

Bhubaneswar: The Union Budget 2025-26, presented by Finance Minister Nirmala Sitharaman, has introduced several measures to make essential goods and industries more affordable. The government has reduced customs duties and offered tax exemptions on key sectors, benefiting consumers and businesses alike. Here’s a look at what will be cheaper after the budget:

Electric Vehicles & Batteries

The government has taken a big step to promote electric mobility by making EV components more affordable.

• Lithium-ion battery scrap, lead, zinc, and 12 critical minerals are now exempt from Basic Customs Duty (BCD), reducing manufacturing costs.
• 35 additional capital goods for EV battery production have been added to the exempted list, making electric vehicles cheaper.

Life-Saving Medicines & Healthcare

Healthcare costs will decrease with significant exemptions on essential drugs.

• 36 essential medicines, including those for cancer and rare diseases, are now fully exempt from duty.
• 6 more medicines will attract only 5% concessional duty, making them more affordable.
• Medicines under Patient Assistance Programs are now fully exempt from BCD, further lowering treatment costs.

Consumer Electronics

Electronics like televisions and monitors will see a price drop due to lower import duties.

• Open Cell display parts (used in TVs and monitors) now have just a 5% duty.
• Parts of Open Cell displays are fully exempted, reducing production costs and final prices.

Textile & Clothing

The government has provided relief to the textile industry to promote local manufacturing.

• Shuttle-less looms, used for high-tech textile production, now have full duty exemption.
• This will lower the cost of medical textiles, agro-textiles, and high-value fabric production.

Shipbuilding & Shipping Industry

The shipbuilding sector gets a major boost with extended duty exemptions.

• Customs duty exemption on shipbuilding raw materials has been extended for 10 more years.
• Shipbreaking now receives duty exemption, reducing costs for ship recycling and new construction.

Leather & Handicrafts Exports

The leather and handicrafts industries will benefit from tax reliefs.

• Crust leather now has zero duty, making leather products cheaper.
• Wet blue leather, an essential material for high-end leather products, is now fully exempted.
• Nine new handicraft items have been added to the duty-free list, boosting artisans and exporters.

Fish & Seafood Industry

India’s seafood industry will become more competitive globally with tax cuts.

• Frozen fish paste (Surimi), used in seafood processing, now has a reduced 15% duty (down from 30%), making processed seafood more affordable.

The Union Budget 2025-26 focuses on making essential items cheaper while promoting domestic manufacturing and clean energy. With reduced costs in healthcare, electric vehicles, electronics, textiles, shipbuilding, and seafood, consumers and businesses stand to benefit significantly.