Budget effect: With cigarettes getting costly, Vikram Poddar thinks passive smokers will also be charged Rs 2 per min

More duties are to be levied on tobacco products.

Agencies
Vikram Poddar shares highlights of the Budget with a light-hearted twist.
By Vikram Poddar

Highlights of the Budget with a light-hearted twist:

- Budget 2019 has allocated Rs 400 crore towards education institutions. The FM said that India finally has three of its institutions in the top 200 of the QS world university rankings. What they missed out was India’s no.1 institution, which is Whatsapp University.


- More taxes for the super rich in this Budget. An additional surcharge for people having income more than Rs 5 crore makes their income taxable at 42 per cent. Due to this, for a change, people from South Bombay are claiming to be from Andheri.

- The government is promoting purchase of electric vehicles by slashing GST rates on them as well as giving an additional rebate of Rs 1,50,000. Now you can expect your annoying roommate to ask you questions like, “Bro, Wagon R ka charger hain, kya? Patli pin wala.”

- The government has furthered its plans of boosting their ‘Startup India’ initiative by launching a TV channel dedicated to startups. In true startup fashion, the TV channel will not make any profits.
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- More duties to be levied on tobacco products. Cigarettes have become so expensive that now they will be shared one by two. Passive smoking will also be chargeable at Rs 2 per minute.

- The government has imposed a TDS of 2 per cent on cash withdrawals above Rs 1 crore. So, now dance bars will start giving Paytm codes along with chakna.

(The writer is an investment banker-turned-corporate comedian and CEO of BoredRoom Comedy)

Budget Impact: Imported Books, Gold Jewellery, Cashews Costlier; Apple Gadgets, E-Cars Become Cheaper
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'Make In India' is a cherished goal, said FM Nirmala Sitharama during her maiden Budget speech, and the sentiments truly reflected so.



The 59-year-old minister batted for initiatives and policies by reducing import dependence and facilitating domestic manufacturers.



While many things like seeds, nuts, fuel, gold, woollen garments have become expensive for middle-class Indians, new benefits made leather products and electric vehicles affordable.



Here's a look at the items that got costlier and what became cheaper after Sitharaman's debut Budget.

'Make In India' is a cherished goal, said FM Nirmala Sitharama during her maiden Budget speech, and the sentiments truly reflected so.The 59-year-old minister batted for initiatives and policies by r..
Read More

Not just your health, cigarettes will hurt your finance more than before.



Cigarette and tobacco industry is not the government's favourite sector, considering the excise duties and compensation cess has seen an increase of over 202 per cent since FY'12. The FM, in her speech, emphasised that the tobacco products attract national calamity and contingent duty.



Cigarettes will burn a hole in your pocket as the FM has proposed a nominal basic excise duty on tobacco and tobacco products.

Not just your health, cigarettes will hurt your finance more than before.Cigarette and tobacco industry is not the government's favourite sector, considering the excise duties and compensation cess h..
Read More

Listen up, bookworms! Ordering your favourite book from abroad will be heavier on your pocket.



In order to encourage the domestic publishing and printing industry, the FM has proposed to levy a fiver per cent custom duty on imported books.



She also said that end use based exemption on paper will be withdrawn.

Listen up, bookworms! Ordering your favourite book from abroad will be heavier on your pocket.In order to encourage the domestic publishing and printing industry, the FM has proposed to levy a fiver ..
Read More

Indulging in dry fruits might not be a smart move after the Budget, especially for your finances.



The government wants to provide a level-playing field to the domestic industry. Nirmala Sitharaman has proposed a hike in basic custom duty of cashewnuts and kernel (inner, edible part of a seed, nut or fruit).

Indulging in dry fruits might not be a smart move after the Budget, especially for your finances.The government wants to provide a level-playing field to the domestic industry. Nirmala Sitharaman has..
Read More

Winter is a couple of months away, but woollen garments will face the heat after this Budget.



The FM announced that basic custom duty will be imposed on raw material and capital goods like wool fibre. Textile will also be costlier.

Winter is a couple of months away, but woollen garments will face the heat after this Budget.The FM announced that basic custom duty will be imposed on raw material and capital goods like wool fibre...
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For Apple fans, this Budget has brought some good tidings. Buying your favourite Apple gadgets will be affordable after the FM proposing to ease FDI norms in single-brand retail.

Manufacturing of products like lithium batteries and solar chargers will also see an investment-linked tax benefit.
For Apple fans, this Budget has brought some good tidings. Buying your favourite Apple gadgets will be affordable after the FM proposing to ease FDI norms in single-brand retail. Manufacturing of p..
Read More

Indian leather products will now cost more overseas. This, after the government has decided that it will rationalise the export duty on raw and finished leather goods to provide relief to the sector.

Indian leather products will now cost more overseas. This, after the government has decided that it will rationalise the export duty on raw and finished leather goods to provide relief to the sector.

Buying a gold necklace will now hurt your pocket. The custom duty on gold and other precious metals has been increased by over two per cent, from 10 per cent to 12.5 per cent.

Buying a gold necklace will now hurt your pocket. The custom duty on gold and other precious metals has been increased by over two per cent, from 10 per cent to 12.5 per cent.

Buying a vehicle and its maintenance will get costlier as the FM has proposed a hike on basic custom duty of auto parts.

Buying a vehicle and its maintenance will get costlier as the FM has proposed a hike on basic custom duty of auto parts.

Along with cars, petrol and diesel will also become expensive. The excise duty on fuel has also been hiked by Re 1 per litre.

Along with cars, petrol and diesel will also become expensive. The excise duty on fuel has also been hiked by Re 1 per litre.

(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.)
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