In the budget, the prices of goods fluctuate slightly due to increase or decrease in import duty. Let us understand what became cheaper and what became expensive from this budget… 1. Cancer medicines became cheaper: Custom duty abolished on 17 life saving drugs. The government has removed the basic custom duty on 17 medicines used in the treatment of cancer. Apart from this, there will be no tax on medicines and special food imported from outside for the treatment of 7 rare diseases. This will provide great financial help to those families who are dependent on expensive foreign medicines for treatment. 2. Microwave ovens are cheap: Duty on parts reduced, domestic manufacturing will increase. To promote domestic manufacturing, the government has made some important changes in the electronics sector. Now the custom duty on special parts used in making microwave ovens has been reduced. This may reduce the prices of microwaves in the coming days. The government aims to make India the world’s hub in consumer electronics. 3. EV batteries and solar panels are cheap: The raw material for making them is tax free. In view of the energy transactions, the government has increased the scope of tax exemption on lithium-ion battery manufacturing machines (capital goods). Now there will be no duty on goods used for battery energy storage systems. At the same time, duty on ‘Sodium Antimonate’ used in making solar glass has also been removed, due to which it will be cheaper to make solar panels in the country. 4. Sea-food, shoes, clothes expected to become cheaper: To increase exports, the government has made announcements for marine products, leather and textile sectors to increase exports. 5. Air travel and aircraft maintenance cheaper: Custom duty on parts removed. To promote civil aviation, custom duty has been removed on parts and components used in manufacturing aircraft. Even in the defense sector, tax will no longer have to be paid on the raw materials procured for maintenance and repair (MRO) of aircraft. This will reduce the cost of manufacturing and repairing airplanes in the country. 6. Goods imported from abroad will be cheaper: Tax reduction on items for personal use is also good news for those who import goods from abroad for their personal use. The government has directly reduced the tax rate on such goods from 20% to 10%. Apart from this, baggage clearance rules for passengers returning from foreign trips will also be simplified and the limit of free allowance will be increased. GST Council decides the prices of most of the things. Today, from the vegetables in your plate to the smartphone in your hand, the prices of most of the things are decided by the GST Council and not the Finance Minister. The four slabs of GST were reduced to two from 22 September 2025. Now GST is applicable only in the slabs of 5% and 18%. The decision on this was taken in the 56th meeting of the GST Council. With this, everything from buying ghee, cheese to buying car and AC has become cheaper. Now answers to two important questions… Question 1: If the duty changes in the budget today, will the goods be available at the shop cheaper from tomorrow itself? Answer: No. This is the biggest illusion. Tax changes in the budget impact the ‘new stock’. The goods which are already kept on the shopkeeper’s shelf will be sold at the old price only. It takes time to see the impact of the budget. At the same time, the price increase or decrease is not certain. It completely depends on the companies. Many times the government reduces duty, but companies do not reduce prices to increase their profit margins. Similarly, if raw materials become expensive in the international market, prices may remain stable or even increase despite tax reduction. That is, nothing is decided. Question 2: Can the budget change the GST changes that took place on 22 September 2025? Answer: No. The Finance Minister does not have the authority to change the GST slab in the budget. For this, a separate meeting of the GST Council is held. The budget can only increase or decrease import duty.
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Budget 2026- 17 cancer medicines duty free: Prices of e-vehicle, solar panels will decrease; It is cheaper to import goods from abroad for personal use
