Budget 2024: Nothing Gets Expensive or Cheaper, Know Why?

Finance Minister Nirmala Sitharaman presented the interim budget for the fiscal year 2024-25 on February 1, 2024. This was the last budget of the Modi government's second term. Since it was an election year, it was an interim budget. Despite this, there were high expectations from the budget from the people.

Nothing gets expensive or cheaper

Finance Minister Sitharaman made several announcements for several sectors, including farmers, women, and infrastructure in the interim budget. However, even after the interim budget, nothing has become expensive or cheaper. Yes, there are no announcements in this budget that could make any product expensive or cheaper in the country.

Why did this happen?

Following the introduction of the Goods and Services Tax (GST) on July 1, 2017, fluctuations in prices within the budget were solely attributable to alterations in customs or excise duties. However, in the latest interim budget, the Finance Minister refrained from disclosing any adjustments to excise or customs duties. Consequently, this absence of announcements is expected to have no direct impact on the affordability of goods or services.