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.


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.

  1. Gold

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



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


  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.


  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.


Custom duties on only a few items were brought down.


Excise duties on most of these items were slashed.


  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).


  1. Bicycle
  2. Chewing tobacco

Custom duty and excise duty were reduced on several items.

  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.


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