With the Union Budget 2026 announcement, some items are expected to become cheaper and others more expensive for Indian consumers. As Finance Minister Nirmala Sitharaman submitted the budget bill in Parliament. Today she spoke about some of the items the government plans to cut tariffs on.
He also mentioned imports from other countries where the Indian government is considering reducing tariffs, which could result in lower prices for Indian consumers.
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The following products are expected to see price reductions:
What has become cheaper?
No. Item name
- Imported goods for personal use
- 17 medicines or medicines for cancer patients
- Medicines, Pharmaceutical Products, and Foods for Special Medical Purposes (FSMP) for Seven Rare Diseases
- Leather items (footwear)
- textile clothing
- marine products
- Overseas package tour
- Lithium ion battery for battery
- solar glass
- important minerals
- Biogas mixed CNG
- aircraft manufacturing parts
- microwave oven
- Foreigner education
List of items expected to increase in price:
- alcohol
- tobacco
- Components of a nuclear power project
- Minerals, iron ore, coal
- false income tax return
- Stock options and future transactions
Will wine become cheaper soon?
While the budget suggests that alcohol could become more expensive for Indians, there may be some respite from India’s recent deal with the European Union. The EU says India will reduce or eliminate tariffs on 96.6% of its exports as part of the free trade agreement.
Wine, beer and other spirits Items imported from Europe are among the items whose prices are likely to come down in India due to lower tariffs. We also have kiwi, pear, fruit juice, non-alcoholic beer, and processed foods.
2026-27 budget
In her 81-minute budget speech, Nirmala Sitharaman touched on several key issues, including the timing of filing income tax returns, increase in securities transaction tax (STT) on futures and options, expansion of India’s semiconductor mission and rare earth corridor.
The budget was praised by Prime Minister Narendra Modi, many other ministers and Bharatiya Janata Party leaders, but criticized by Congress and other opposition parties as “lackluster” and lacking in pro-poor reforms.