Finance Minister Nirmala Sitharaman announced an increase in customs duty on imported goods and other sectors that could pinch the pockets of masses.

In her Budget 2020 speech, Finance Minister Nirmala Sitharaman announced an increase in customs duty on imported goods and other sectors that could pinch the pockets of masses. Here’s a look at what will be more expensive and what’s become cheaper.

Excise duty has been hiked on cigarettes, tobacco products.

A health cess has been levied on import of medical equipment.

Customs duty has been raised on imported wall fans, porcelain or ceramic tableware and kitchenware, clay iron, steel and copper to 20 percent.

Customs duty has been hiked on imported footwear and furniture.

Customs duty has been raised on catalytic converters and parts of commercial vehicles (other than electric vehicles). Mentioned below are the things that will get cheaper.

Duty exemption has been withdrawn on certain alcoholic beverages, raw sugar, agro-animal based products, tuna bait, skimmed milk, soya fibre and soya protein

FM has halved customs duty on import of newsprint, lightweight coated paper to 5 percent.

Anti-dumping duty on purified terephthalic acid (PTA), used for production of high-performance multipurpose plastics, has been abolished.