New Financial Year 2026 Starts: Here’s What Gets Cheaper and What Costs More from April 1
With the new financial year (2026–27) beginning on April 1, a number of price changes have quietly come into effect. These updates, announced in the Union Budget by Nirmala Sitharaman, are likely to influence everyday spending for many households.
Along with changes in import duties, decisions by the GST Council have also played a role in shaping prices. Recently, the GST system was simplified into just two slabs - 5% and 18% - making things a bit easier to follow.
Here’s a simple look at what’s become cheaper and what’s a bit more expensive from today.
What’s Getting Cheaper
Medicines
Some essential medicines, especially those used for serious illnesses like diabetes and cancer, are now more affordable thanks to reduced duties.
Electric Vehicles (EVs)
If you’ve been thinking about switching to an EV, this might be a good time. Tax benefits have made them a little easier on the pocket.
Leather Products
Items like shoes and other leather goods are expected to cost less, as the government has eased duties on certain materials.
Microwave Ovens & Components
Lower duties on parts used in appliances could bring down the prices of products like microwave ovens.
Imported Personal Items
Some personal-use imported goods are now slightly cheaper due to reduced tariffs.
Smartphones & Tablets
Locally manufactured devices are becoming more affordable, which is good news if you’re planning an upgrade.
Foreign Travel & Education
Sending money abroad for education, medical treatment, or travel has become less expensive with reduced tax collection at source (TCS).
Seafood
Fish caught beyond India’s territorial waters now comes with duty benefits, which may help lower prices.
Clothing & Textiles
Garments, including sarees and other apparel, are expected to be more affordable.
Energy & Key Materials
Costs related to things like battery cells, solar glass, and cleaner fuel options may come down, which could have a broader impact over time.
What’s Getting Costlier
Luxury Goods
High-end items may now cost a bit more due to changes in duties and tax benefits.
Imported Electronics (Selective)
While locally made gadgets are cheaper, some imported ones could see a price increase.
Non-Essential Imports
Items that aren’t considered essential may become slightly more expensive.
Premium Products
Certain premium goods could see small price hikes dependining on updated duty rules.
FASTag Annual Pass
There’s a small increase here - the annual pass now costs ₹3,075, up from ₹3,000.
Final Thoughts
Overall, the changes bring a mix of relief and added costs. Essentials and everyday items are getting a bit more affordable, while luxury and imported goods may pinch slightly more.
If you’re planning big purchases or budgeting for the year ahead, keeping these changes in mind can help you make smarter decisions.
