News

Union Finance Minister Nirmala Sitharaman presented her ninth consecutive Union Budget on Sunday, and attention has now shifted to the impact on everyday consumers. The Finance Minister highlighted several items that will become more affordable under the new Budget proposals.

Sports equipment, medicines for treating diabetes and cancer, and other essential goods are set to cost less, easing the financial burden on households.

List of items that got cheaper:

Leather products

Mobile phones and EV batteries

Microwave ovens

17 cancer medicines

Solar panels

Lithium battery components

Civilian training and other aircraft parts

Medicines for rare diseases

In the Union Budget 2026-27, Finance Minister Nirmala Sitharaman announced a simplified Tax Collected at Source (TCS) rate of 2% for sellers of alcoholic liquor, scrap, and minerals. Previously, these sectors had varying TCS rates, sometimes higher, adding complexity for sellers. The new flat rate aims to make the tax system more uniform and business-friendly, easing compliance for these industries. As a result of budget proposals, alcohol prices are also set to rise.

This is a breaking news story. More details will be added shortly.