Union Budget 2022: What gets cheaper and what's costlier

Here's is a list of items that will become cheaper in FY23:

Domestic electronic wearable devices, hearable devices and electronic smart meters.

Mobile phone parts : 

Duty concessions are being given to parts of transformer of mobile phone chargers and camera lens of mobile camera module and certain other items.

Gems and jewellery : 

Customs duty on cut and polished diamonds and gemstones are being reduced to 5%


Customs duty on certain critical chemicals namely methanol, acetic acid and heavy feedstocks for petroleum refining are being reduced

Now a list of items that will become costlier in FY23:


Customs duty on umbrellas being raised to 20 percent. Exemption to parts of umbrellas being withdrawn.

Petrol & Diesel

As unblended fuel will attract an additional differential excise duty of Rs 2/ litre from October 1, 2022, to further encourage the blending of fuel.

Imitation Jewellery

In order to disincentivise import of undervalued imitation jewellery, the government has decided to levy a custom duty of Rs.400 per kg on imitation jewellery.

Smartwatches & Earbuds

Custom duty on manufacturing of wearable, hearables and shareable devices, and electronic smart metres. To facilitate domestic manufacturing of wearables.