The new financial year (FY 2021-22) is a major scare for the middle-class taxpaying average person. In fact, there is going to be a hike in almost all the daily use items. There are speculations that everyday use items ranging from milk to electronic equipment are going to get expensive. Let us know about the daily use items that will get costly and hurt the sentiments, pockets, and finances of a taxpaying citizen.
Milk and Milk Products
Milk prices shall increase from April 1, 2021. The farmers have passed this information around, claiming that it will rise by INR 3 per litre. Earlier the price of one litre of milk was INR 46, whereas the new price will be around INR 49. Further, this will have a ripple effect on milk products such as ghee, curd, cottage cheese and other milk-related products.
Electricity in Bihar
People of Bihar are in for a shock as their electricity will get costlier. It is an expectation that electricity in Bihar will get costlier almost by 10% per month. Due to such speculations, this is going affect the daily commodities and lifestyle of people in Bihar.
Four-wheelers, Two-wheelers, and Tractors
Major automobile players such as Maruti Suzuki, Mahindra and Nissan have collectively announced a hike in their four-wheeler vehicles. Farmers are also in for a shock as tractors will also get costlier. Under the same category, two-wheelers will also get a rise in their respective price tags.
Television, Air Conditioner and Refrigerators
It is going to get expensive to buy a new television/TV this fiscal year. The prices of TV have been steadily increasing over the past few years. There is a rough estimation that a TV will cost more by INR 2000-3000 depending on the category and size of the television. Under a similar category, Air Conditioners/AC and Refrigerators are also going to be expensive. The price of AC might go up by INR 1500-2000.
Apart from the above-mentioned domestic flying is also supposed to get expensive. The minimum rise in the price tag must be around 5%. Domestic passengers now will have to shell out an extra INR 200 as Airport Security Fees. The same fees for international passengers would be USD 12. According to the DGCA, this rule will come into effect from April 1, 2021.