Budget 2023: petrol & gold prices will increase..!?

 On february 1, Union Finance minister nirmala sitharaman will present the Union Budget fro the year 2023. Everyone is afraid that the central government is going to introduce something new in the budget to increase expenses. Although the official announcement of the budget is yet to be made, some things are likely to go up in price.
Fuel:

Fuel prices are expected to increase in this budget. Although there has been no change in the price of petrol and diesel for the past few months, various factors including the rise in crude oil prices internationally and the depreciation of the rupee have caused this fear. Also, due to an increase in fuel prices, transport charges will increase and this will affect the prices of goods and services.
Gold:
Another commodity that is likely to increase in price is gold. gold prices have been on the rise for the past few months and are expected to rise further in the coming year. This is due to several factors, including the continued depreciation of the indian rupee against the dollar, and increased demand for gold. Buyers of jewelry and other gold products may be affected by rising gold prices
Luxury goods:

In the upcoming budget, it is expected that tax on luxury goods will be increased, not only on fuel and gold. This includes items such as luxury cars, expensive watches, and designer clothes. government can increase taxes on these goods to increase revenue. With Union Budget 2023 to be presented the day after tomorrow, prices of commodities like fuel, gold, and luxury goods are likely to increase. However, since the government has indicated that steps will be taken to provide certain products at lower prices, consumers are also likely to get some relief. It is noteworthy that nirmala sitharaman recently said that she knows about the pressures in life for the middle class. She had said that she also belongs to the middle class, so she understands the pressure of this class. The budget will focus on boosting the economy and creating jobs. This will help keep prices stable.
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Sowmiya Sriram

30/01/2023 06:51 PM