US EditionUnion Budget 2026: What gets cheaper, what gets costlier
Union Budget 2026 lowers import tariffs on personal goods by 50% and raises taxes on luxury items and financial trades to boost domestic manufacturing and revenue.
- On February 1, 2026, Finance Minister Nirmala Sitharaman presented the Union Budget 2026, introducing multiple tax and duty changes affecting prices across India.
- The budget lowered Tax Collected at Source for overseas tour packages and remittances for education and medical purposes from 5% to 2%, easing costs for travellers and students.
- The tariff on personal imports under Chapter 9804 was reduced from 20 to 10, and basic customs duty was exempted on 17 cancer drugs and medicines for seven rare diseases, according to the budget.
- The government raised Securities Transaction Tax on Futures to 0.05 from 0.02 and on options to 0.15 from 0.125, increasing costs for traders and luxury goods buyers.
- Beginning February 2, 2026, exemptions on coffee roasting, brewing and vending machines will be removed; exemptions on television equipment end April 1, and NCCD on tobacco rises on paper May 1.
14 Articles
14 Articles
Budget 2026: What Gets Cheaper and What Becomes Costlier?
Union Budget 2026, presented on 1 February 2026 by Finance Minister Nirmala Sitharaman, introduced several changes affecting the prices of goods and services in India. According to Financial Express, the tariff on all dutiable goods imported for personal use was reduced from 20 percent to 10 percent. This measure is expected to lower the cost of high-value personal items purchased from overseas. Additionally, microwave ovens, sports equipment, a…
Budget 2026 for Auto Sector: Union Finance Minister Nirmala Sitharaman announced in her budget speech today that the basic customs duty exemption on capital goods used in the manufacture of lithium-ion cells will be extended. The government also made significant announcements regarding CNG blending.
Union Budget 2026: FM extends tax exemption for lithium-ion battery equipment
New Delhi: Finance Minister Nirmala Sitharaman on Sunday, February 1, announced an extension of basic customs duty exemption on capital goods used for manufacturing lithium-ion cells for battery storage in the annual budget for the next financial year. In her budget speech, she also proposed to exclude the entire value of biogas while calculating excise duty levy on (biogas) blended CNG (compressed natural gas). “I propose to extend the basic cu…
Budget 2026: Alcohol to be costlier, here's what FM Nirmala Sitharaman says
In the Union Budget 2026-27, Finance Minister Nirmala Sitharaman has announced that the rate of Tax Collected at Source (TCS) applicable to sellers of alcoholic liquor, scrap and minerals has been simplified to a flat rate of 2 percent. Prior to this, sellers in these sectors were required to pay different rates of TCS, which in some cases were higher. Alcohol, Scrap & Minerals: TCS rate rationalised to 2% for sellers The prices of tobacco prod…
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