Budget 2024: Are TVs, Refrigerators, And Smartphones Set To Get Cheaper?

Budget 2024
(Last Updated On: February 2, 2024)

Key Highlights

  • Sitharaman’s interim budget addresses post-election financial needs
  • Budgets show mobiles cheaper, bicycles costlier over time
  • 2023-24: TVs cheaper, air travel costlier.

On February 1, the Union Finance Minister, Nirmala Sitharaman, unveiled the interim budget, marking her sixth budget presentation. This session holds significance as it is the last one before the upcoming Lok Sabha elections scheduled for April-May. The interim budget aims to address financial requirements until a new government is formed post-election. The focus is on the anticipated changes in the costs of various items, particularly household appliances like televisions, refrigerators, mobile phones, and washing machines. Also Read | Here’s The List Of Best Smart Home Gadgets You Can Buy In India

Trends In Budgetary Changes

Best Smartphones

2014-15 Budget: Price Shifts

CheaperMobiles, computers, LCD TVs, diamonds, footwear
CostlierCigarettes, radio taxis, imported electronic items, imported garments

2015-16 Budget: Fluctuations in Prices

CheaperMinerals, chemicals, solar water heater systems, wind power generators
CostlierIced tea, mineral water, aerated drinks, bags, eating out, cigarettes

2016-17 Budget: Impact on Consumer Goods

CheaperFootwear, solar lamps, broadband modems, affordable homes
CostlierCars, cigarettes, air travel, readymade garments, gold, silver

2017-18 Budget: Shifting Economic Landscape

CheaperLED lamps, solar panels, rail travel, import of solar tempered glass
CostlierSilver coins, cigarettes, mobile phones, water filter membranes

2018-19 Budget: Economic Adjustments

CheaperSolar tempered glass, raw cashew nuts, cochlear implant raw material
CostlierCars, motorcycles, mobile phones, gold, silver, mattresses, diamonds

2019-20 Budget: Addressing Financial Dynamics

CheaperAffordable houses, set-top boxes, imported defense equipment
CostlierFully-imported cars, petrol, diesel, split ACs, cigarettes

2020-21 Budget: Navigating Economic Trends

CheaperRaw sugar, certain alcoholic beverages, agro-animal-based products
CostlierMedical equipment, footwear, tableware/kitchenware, cigarettes

2021-22 Budget: Adjustments in Precious Metals and Technology

CheaperGold, silver, leather products, nylon clothes
CostlierMobile phones, solar cells, imported gems, AC and fridge compressors

2022-23 Budget: Technology and Chemical Adjustments

CheaperImitation jewelry, computers, laptops, certain chemicals
CostlierUmbrellas, imported items, chocolates, smartwatches

2023-24 Budget: Recent Trends in Price Movements

Smartphone under 7k
CheaperTVs, smartphones, compressed gas, lab-grown diamonds
CostlierCigarettes, bicycles, imitation jewelry, air travel

Verdict

In the ever-evolving economic landscape, the annual budgets present a dynamic interplay between consumer goods, technology, and economic priorities. The interim budget, given its timing, adds a layer of anticipation as citizens await the impact on their daily lives.

Also Read | Interim Budget 2024: Govt’s Big Plans To Supercharge Electric Vehicle Growth

About Shweta Srivastava

Say hello to Shweta, a tech fan who's hooked on keeping up with all things tech. When she's not exploring the latest gadgets, she's diving into a good book, clicking photos as an amateur photographer, or enjoying classic movies and music. With her love for both tech and creativity, Shweta adds her own touch to tech news in a way that's easy to understand and enjoy.

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