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Union Budget 2021 Cheaper and Dearer items Live

Taxpayers may be looking at some relief or at least no increase in the indirect taxes but it is direct taxes where the majority of people will be concerned as it decides whether any item is getting cheaper or dearer.

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Union Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman presents the Union Budget 2021-22 in Parliament on Monday (February 1), during a time when the entire nation is still recovering from the coronavirus crisis.

The Budget presentation will be underway with a speech from the FM, scheduled to take place at around 11 am.

2020 has been the year of the COVID pandemic which has financially affected a large portion of taxpayers who will be looking for relief. Taxpayers may be looking at some relief or at least no increase in the indirect taxes but it is direct taxes where the majority of people will be concerned as it decides whether any item is getting cheaper or dearer. Announcement of Custom duty, GST rates on appliances, and day to day items will be watched keenly.

LIVE UPDATES HERE:

Certain leather items set to get costly as government announces exemptions on foreign

Steel set to get cheap as a limited period exemption is announced on steel scrap

Nylon fibres and chips set to get cheaper as import duty reduced to 5 percent.

Domestically manufactured Chargers set to get cheaper.

Domestically manufactured Mobile Phones set to costlier as taxes on some equipment raised from zero percent to 2.5 percent.

Union Finance Minister and Corporate Affairs Nirmala Sitharaman and MoS Anurag Thakur arrive at the Parliament.

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