Budget 2020 Cheaper and Dearer: Imported shoes, furniture to become dearer; check list of items here

Budget 2020 Dearer and Cheaper: After the budgetary proposals announced by Finance Minister Nirmala Sitharaman, there is a list of items that may become dearer and you will have to pay more for those items. Now a common man will have to pay more for buying imported shoes and furniture. As per the Budget 2020, the finance minister has proposed a higher import duty on shoes and furniture. Apart from them, there is a proposal to hike import duty on tobacco and cigarettes as well.

Nirmala Sitharaman has also proposed to levy 10 per cent customs duty on auto and auto ancillary parts. So, in FY21, one will have to pay more for buying a car, bike or any auto part. While presenting the Union Budget 2020 Nirmala Sitharaman said, "I propose to levy customs duty of 10 per cent on the auto and auto ancillary parts.

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Apart from this, there is a proposal to levy 15 per cent import duty on selected Electric Vehicles. So, in the FY21, one will have to pay higher on selected Electric Vehicles. However, there is a proposal to increase customs duty on commercial vehicles from 30 per cent to 40 per cent.

On selected toys, the import duty has been hiked from 20 per cent to a whopping 60 per cent. So, for buying those select toys for your children, parents will have to pay more in FY21.

On selected mobile equipment, the import duty has been increased from 10 per cent to 20 per cent. So, in the coming year, one will have to pay more for one's mobile repair if the equipment required for repair falls under the select mobile equipment items.

However, import duty on newsprint has been reduced from 10 per cent to 5 per cent. So, in the coming year, one will have to pay lesser for buying newsprint which is imported.