The Union Budget 2026 announced several changes in customs duties and taxes that will make everyday goods and services more affordable for consumers. Cuts in customs duty and rationalisation of tariffs will reduce prices on items such as electric vehicles, solar panels, imported goods for personal use, smartphones and essential medical supplies including cancer and rare‑disease medicines – easing the cost burden for households and supporting sectors like renewable energy and healthcare.
Duties on goods imported for personal use have been significantly lowered — for example, basic customs duty on such items has been reduced from 20% to 10%, helping make overseas purchases and online orders more affordable.
However, some products are set to become costlier following the Budget changes. Higher taxes or duties will increase prices for luxury and sin goods such as high‑end watches, imported alcohol, tobacco products (like cigarettes and pan masala), and other premium imports. These adjustments reflect a mix of consumer relief measures and revenue‑raising steps in the fiscal plan.
