Prices of these 6 things changed from April 1: Property likely to be cheaper, milk to get expensive
With the beginning of this new financial year, your pocket may get burdened with price hike of some products and services. On the other hand, few products and services have got cheaper too.
The new financial year started on April 1 and brought a number of changes for all. With the beginning of this new financial year, your pocket may get burdened with price hike of some products and services. On the other hand, few products and services have got cheaper too. April 1 brings a change to many financial aspects right at the level of government or private corporate, affecting a price change on some of the products and services. Most of these price changes may bring an offload on your pocket but some could even end up increasing your workload. Here are the 6 things that will have an effect on their price:
Loans to get cheaper:
The RBI is likely to bring a rate cut in interest rates in its first monetary policy of this financial year. Also, the banks have been asked to adopt a new way to calculate loan rates. According to the Reserve Bank of India (RBI), all banks will have to link the loan rates to an external benchmark from April 1, which is going to affect the interest rates.
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New GST rates for real estate:
New GST rates will be applicable in the real estate sector from April 1. Now, 1 per cent GST will be applicable to affordable houses and 5 per cent on under construction homes. The decision was taken by the GST Council. This is expected to bring down the prices of homes pan India. The decision is likely to make your dream of a new house more affordable.
Cardiac Stents to become cheaper:
Drug price regulator NPPA has approved an increase in prices of cardiac stents by 4.2 per cent parallel to the wholesale price index (WPI) of the previous calendar year, as per the official statement. As per the new prices notified by the National Pharmaceutical Pricing Authority (NPPA), a bare metal stent (BMS) will be costing Rs 8,261 from April 1 onward, while the drug-eluting stent (DES) will cost Rs 30,080.
More savings for mutual fund investors:
According to the new rule by SEBI, the total expense ratio of an investor cannot be more than 2.25. This means that you will be able to save more on mutual funds. Your mutual funds investments will become more feasible as the expense ratio for the closed-ended schemes would be 1.25 per cent. For schemes other than equity schemes, the TER would be one per cent as per SEBI.
Vehicles to get expensive:
Many car and bike manufacturers have decided to increase prices from April 1. Maruti Suzuki, Tata Motors, Datsun and Mahindra are some of the major manufacturers that have announced the price hike due to adoption of BS VI engine and to counter hike in raw material prices.
Milk will get expensive:
Price of tea, coffee, sweets and other dairy products are likely to be costlier as the country might witness a hike in milk prices in the coming quarter. According to a report by CRISIL, a litre of milk will become costlier by Rs 1-2 owing to a decline in skimmed milk powder inventories and decreased supply of milk. This price hike may affect several milk products such as butter, ghee, cheese, lassi and other milk products.
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