Budget 2020: What gets costly
Finance Minister Nirmala Sitharaman presented Union Budget 2020 on Saturday. As finance minister, this was the second budget presentation by Sitharaman and this was also the second budget since Prime Minister Narendra Modi came to power for a second term. Amid loud desk-thumping approval from the Union Ministers, Sitharaman tabled the Budget 2020 at 11 am in the Lok Sabha.
Here's a detailed list of things that have now turned costlier
- Butter ghee
- Butter oil
- Cooking oils
- Peanut butter
- Whey
- Meslin
- Maize
- Sugar beet seeds
- Preserved potato
- Chewing gum
- Dietary soya fibre
- Isolated soya protein
- Walnuts (shelled)
- Footwear
- Shavers
- Hair clippers
- Hair-removing appliances
- Tableware
- Kitchenware
- Water filters
- Glassware
- Household articles of porcelain or china
- Rubies, emeralds, sapphires, rough coloured gemstones
- Padlocks
- Hand sieves and hand riddles
- Combs
- Hairpins
- Curling pins
- Curling grips
- Hair curlers
- Table fans, ceiling fans and pedestal fans
- Portable blowers
- Water heaters and immersion heaters
- Hair dryers
- Hand drying apparatus
- Electric irons
- Food grinders
- Ovens
- Cookers
- Cooking plates
- Boiling rings
- Grillers and roasters
- Coffee and tea makers
- Toasters
- Electro-thermic fluid heaters
- Devices for repelling insects
- Electric heating resistors
- Furniture
- Lamps
- Lighting fittings
- Toys
- Stationery item
- Artificial flowers
- Bells
- Gongs
- Statuettes
- Trophies
- Printed Circuit Board Assembly (PCBA) of cellular mobile phones, display panel and touch assembly, fingerprint readers for use in cellular mobile phones
- Cigarettes
- Hookah
- Chewing tobacco
- Jarda scented tobacco
- Tobacco extracts and essence
- Parts of commercial vehicles
- Catalytic converters
- Import of medical equipment
What is the Union Budget?
According to Article 112 of the Constitution of India, the Union Budget is the annual financial statement of the estimated receipts and expenditure of the Central government for that particular financial year. The receipts and disbursements are shown under three parts in which the Government Accounts are kept, viz.,
(i) The Consolidated Fund of India
(ii) The Contingency Fund of India, and
(iii) The Public Account of India.
The finance minister's Budget presentation speech has many parts. They pertain to various categories: Annual Financial Statement (AFS), Demand for Grants (DG), Appropriation Bill, Finance Bill, Macro-economic framework for the relevant financial year, Medium-Term fiscal policy and a strategy statement, Expenditure Profile, Expenditure Budget, Receipts Budget.
Also Read | Union Budget 2020: Terminology, glossary of frequently used terms
