New Delhi: The Union Budget 2026-27 brings clear changes for lifestyle spending, with some everyday and aspirational products set to become more affordable while others turn costlier. Finance Minister Nirmala Sitharaman’s announcements include duty cuts on select consumer goods and higher taxes on luxury indulgences. From leather products and smartphones to luxury watches and imported alcohol, the Budget draws a sharp line between items meant to support domestic manufacturing and those positioned as premium consumption.
For lifestyle consumers, the changes matter as they directly affect fashion, accessories, gadgets, and leisure choices. While some segments may benefit from lower prices, others will see higher costs in the coming months. Here is a closer look at what gets cheaper and what becomes more expensive after the latest Budget announcements.
Lifestyle goods that get cheaper
1. Leather goods and accessories
The government has proposed duty-free imports of certain specified inputs to promote leather exports. This move is expected to support domestic leather manufacturers and exporters, which could translate into more competitive pricing for leather footwear, bags, and accessories in the local market.
2. Smartphones and tablets made in India
Smartphones and tablets manufactured in India are also expected to become cheaper following tariff rationalisation. The measure aligns with the government’s push for domestic manufacturing and could benefit consumers looking to upgrade devices without stretching budgets.
3. Imported personal-use items
Some imported items meant for personal use will attract lower customs duty. This may offer limited relief to consumers purchasing select lifestyle products from overseas, depending on the category and pricing.
Lifestyle indulgences that get costlier
1. Luxury watches
Luxury watches are set to become more expensive due to higher taxes announced in the Budget. The move places premium timepieces firmly in the luxury bracket, impacting buyers looking at high-end international brands.
2. Imported alcoholic beverages
Imported alcohol will also attract higher levies, making premium spirits and wines costlier. This is likely to affect consumption patterns in the luxury and hospitality segments.
With targeted duty cuts and higher taxes on select indulgences, Budget 2026 reshapes lifestyle spending choices. While everyday fashion and tech purchases may see some relief, premium lifestyle indulgences are set to demand deeper pockets.