Finance

All You Should Know About Fiscal Year 2017 2018

By Kanishka Arora
  • Mar 31, 2017
  • 14898 views

We are all set to enter the new fiscal year 2017-2018. This financial year would be interesting to watch out as we would see the implementation of the biggest reform in the history of India since the independence on the taxation i.e. the roll out of GST bill. 
So, you must know the goods and services which will see a hike in prices and which all have a cost cut.
THINGS WHICH WILL GET CHEAPER
Postal services will be cheaper than before.
Leather products will be available for a lower price. Hence you can plan to add a leather jacket, shoes etc. 
Water purifier or RO prices will also drop. Therefore, people are recommended to get a purifier installed for better drinking water. 
The government had promised to provide home to everyone, to do so the government has also announced the lower rate of interest on home loans. Plan to buy a home this fiscal year. 
The rail tickets will be booked at a cheaper price as the service charge levied on the time of booking the ticket is revised. 

GOODS AND SERVICES WHOSE PRICE IS HIKED
All the telecom companies which are providing free unlimited data, voice calls, messages will close on 31st March 2017 and then onwards you would have to choose from the various packs.
NHAI has increased the toll rates 2% to 3% which may also vary place to place. Which means you will have to pay 5 to 10 rupees extra. 
Products produced from aluminum will be costlier.
Steel items will also get expensive from 1st April onwards. 
Mobile phones will also be expensive as the circuit used in the manufacturing will face price hike.
Silver products and jewelry will become costly.
LED bulb will be expensive after 1st April as the material used in the manufacturing will be available at a higher price.
Car, bike and commercial vehicle insurance will be available at higher prices.
Cigarette and tobacco cost will go up and now it will also effect  the pocket of the consumers.      

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