Budget 2023: Petrol, Diesel, Gold - What are the things that can be expensive?

Union Budget 2023 will be presented by Finance Minister Nirmala Sitharaman on 1 February. It is being speculated that during this time the prices of some things can be increased.

Finance Minister Nirmala Sitharaman will present the Union Budget 2023 for 2023 on 1 February. During this, everyone's eyes are fixed on the budget and whether the government is going to introduce anything new in the budget regarding the cost of living. Although the official announcement of the budget is yet to be made, certain things are likely to see a price hike.

Fuel

One of the items that are expected to be expensive in this budget is fuel. Petrol and diesel prices have increased in recent months and this trend is likely to continue in the coming year. This is due to several factors, including rising global oil prices and the depreciating rupee. Due to this, the increase in fuel prices will have an impact on the cost of goods and services, as transportation costs will increase.

Gold

Another commodity that is likely to see an increase in its price is Gold Price. The price of gold has increased in recent months, and it is expected to increase further in the coming year. This is due to a number of factors, including a weak rupee and rising demand for precious metals. The increase in gold prices is likely to affect the cost of jewelry and other gold products.

Luxury items

In the coming budget, apart from fuel and gold, tax on luxury items is also expected to increase. This includes items like luxury cars, expensive watches, and designer clothes. In an effort to increase revenue and curb excessive consumption, the government may increase taxes on these items. Lastly, the Indian Union Budget for 2023 will be presented in the coming weeks and it is important to keep an eye on the price of commodities like fuel, gold, and luxury items as they are likely to see an increase in their prices. However, it is also possible that consumers may get some relief, as the government has indicated that it will take steps to make certain items more affordable. The budget will also focus on measures to boost the economy and create jobs, which may help in keeping prices stable.