With the Oscar fever happening at one part of the world, let's take a minute in knowing what's happening in the other. Well, ladies and gentlemen, it's Budget 2016-2017 thats making some fresh news in our part of the world, India.
Today is one of the most crucial days, as most of us are looking out for the release of budget 2016-17. This is the day when most of us crib about the ever-increasing prices and taxes.
This year's budget is quite a relieving one however for the middle class and lower middle class, as people with heavy salaries are the ones who would get affected the most.
With less salaries and taxes going up, it will surely leave a hole in a layman's pocket. Some of the prices of the things that are most likely to go high this year can be as listed in this article.
So, have a look at what can get possibly see a price rise and make sure you plan your personal budget ahead in the coming financial year of 2016-17.
Branded Milk Products
Branded milk products like paneer, cheese, ice cream, curd and other various products will be facing a brunt for this coming year. So watch out!
There is likely to be a hike of 10-15% in all forms of tobacco products except beedis this year 2016-17. Hope this brings down the number of smokers in the country!
Gold Rate Import
As gold import rate has increased in the previous year, there is a hike of 1 %. As the import duty is kept high this year, gold prices see a hike.
Booze is something that you might have to think on your budget before partying, as there is going to be a hike in the rates of alcohol this year.
Oh ladies! This is the bad news coming up your way. The prices of cosmetic products will increase slightly. But, we are sure there will not be a drop rate in buying them however!
Most of your household electronic items like TV, refrigerator, washing machine, etc, are all going to face a brunt and may see a rise in price this year. So, watch out before you plan to buy any electronic good.
Luxury cars that cost more than 10 lakhs are going to cost more. With increasing cost of petrol and diesel, buying a vehicle is no joke. Hope this helps handle the traffic scenario.
Updating yourself with the latest technology products will make you think twice before doing so, as there is a possible rise in price that can be seen on gadgets this year.
Buying a dream home can be a dream only for a few this year, as the prices of home loans are going up for sure.
Different essential oils like lavender, tea tree and other healing oils are more in demand and may see a possible price hike too. This again has an impact on the beauty products.
Travellers watch out, as this coming financial year will make you think twice before you plan for your trips and outings this year.
As there has been a constant growth in the organic food market, there are chances of the rates of the organic products going high slightly, owing to the increased cost in storing these products to meet the increased demand for these products.