Union Budget 2022-23: What Got Costlier and What Got Cheaper; Check Full List Here


Union Budget 2022: Union Finance Minister Nirmala Sitharaman announced slew of changes in the customs duty for several products in her Union Budget Speech 2022, which will invariably affect the price of the commodities. 

FM Sitharaman announced 5 percent reduction in customs duty on gems, cut and polished diamonds. The customs duty on imitation jewelry and chemicals has also been reduced, while the customs duty on umbrellas has been increased to 20 percent. 

The Finance Minister informed that in order to incentivise exports, exemptions are being provided on items including buttons, zippers, embellishment, trimmings, lining material, fasteners, specified leather, furniture fittings and packaging boxes that may be required by the exporters of textiles, handicrafts and leather products. 

Let us check what has got costlier and what has got cheaper with these changes-

What has got Cheaper?

Cut and Polished Diamonds


Imitation Jewelry

Mobile Phones

Mobile Phone charger

Leather Garments, products

Farming goods


Acetic acid

Methyl alcohol

Cocoa beans


Frozen mussels

Frozen squid

Camera Lens

Steep scrap

 Chemicals needed for petroleum products

What has got costlier?


All imported items

The changes in the pricing of the commodities will be effective from the beginning of the fiscal year 2022-23 on April 1, 2022. 

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