Over the years, budgets of various finance ministers have impacted the lives of people, directly or indirectly. The direct impact was felt through the changes in the prices of items that people consume on a daily basis, or through the launch of several social welfare schemes. Indirectly, though, the impact may be even bigger but it doesn't concern people as much. In fact, terms such as fiscal deficit, plan and non-plan expenditure,

current account deficit, subsidy burden are gobbledygook for a common man.

Business Today pored over the budgets of past 14 years to tell you their
'direct' impact on lives of people.

2016-17

  1. Various tobacco products other than beedi
  2. Excise duties raised from 10% to 15%

  3. Readymade garments
  4. Excise on readymade garments retail price of Rs 1000 or more raised to 2% without input tax credit or 12.5% with input tax credit

  5. Articles of jewellery
  6. Excise duty of 1% without input tax credit or 12.5% with input tax credit on articles of jewellery [excluding silver jewellery, other than studded with diamonds and some other precious stones]

  7. Small petrol, LPG, CNG cars
  8. Infrastructure cess, of 1% on small petrol, LPG, CNG cars, 2.5% on diesel cars of certain capacity and 4% on other higher engine capacity vehicles 13 and SUVs.

  9. Luxury Cars
  10. Tax to be deducted at source at the rate of 1 % on purchase of luxury cars exceeding value of Rs ten lakh and purchase of goods and services in cash exceeding Rs two lakh.

  1. Digital still image video camera
  2. Footwear

Excise duty on footwear with leather uppers and having retail price of more than Rs 1,000 per pair reduced to 6%

2015-16

  1. Commercial vehicles
  2. Cigarettes

Service-tax plus education cesses increased from 12.36% to 14%

  1. LCD and LED TVs below 19 inches
  2. Footwear above Rs 500 but below Rs 1,000 a pair

Customs duty on LCD and LED TV panels below 19 inches reduced from 10 per cent to nil.

2014-15

  1. Cigarettes
  2. Aerated water

Specific rates of excise duty increased on cigarettes in the range of 11 per cent to 72 per cent.

  1. Handmade carpets

The duty on motorcycles with engine capacity of 800cc or more were raised from 60 per cent to 75 per cent. On yachts and similar vessels, the duty was increased from 10 per cent to 25 per cent.

2013-14

2012-13

  1. Bicycle
  2. Chewing tobacco

Custom duty and excise duty were reduced on several items.

2010-11

  1. Scented tobacco
  2. Chewing tobacco

Excise duties on all non-smoking tobacco were increased while central excise duty on LED lights was reduced to bring it at par with CLFs (compact fluorescent lamps).

2008-09

Excise duties on most of these items were slashed.

2007-08

Custom duties on only a few items were brought down.

2006-07

  1. International air travel
  2. Travel on cruise ships

New services like international air travel (excluding economy-class travel) and cruise ship travel are added to service tax list.

2005-06

  1. Gutka
  2. Chewing tobacco
  3. Pan masala

Specific rate on cigarettes was raised by about 10 per cent and a surcharge of 10 per cent was imposed on other tobacco products.

2003-04

Excise duty on items that are used by common man are either reduced or brought down to zero.

  1. Gold

Custom duty on gold was reduced from Rs 400 per 10 grams to Rs 250 per 10 grams.

2001-02

2000-01

Custom duties on these products were reduced by 5-20 per cent. Custom duty on cellphones, for instance, was reduced from 25 per cent to 5 per cent.