From air travel to term insurance: Here's a list of things that may become expensive from today

Updated : April 01, 2021 12:56:47 IST

The new financial year, which starts from today i.e. April 1, is likely to make a number of things expensive ranging from vehicles to air travel.

The new financial year, which starts from today i.e. April 1, is set to make a number of things expensive ranging from vehicles to air travel.

Here’s a look at these items:

Vehicles

Companies like Maruti Suzuki and Nissan India have announced a price hike across their models from today.

Maruti Suzuki said that it would "substantially hike vehicle prices from April in order to offset an increase in raw material cost". Nissan India, on the other hand, announced a price hike across all available models, including the Datsun.

"There has been a continuous escalation in auto component prices, and we have tried to absorb this escalation over the last few months. We are now constrained to increase our prices across all Nissan and Datsun models. The increase in prices varies from variant to variant," PTI quoted Nissan Motor India Managing Director Rakesh Srivastava as saying.

Air travel

Travelling by air may get expensive from today with the increase in domestic protection fees to Rs 200, from the previous Rs 160.

"Aviation Security Fee for domestic passengers will be levied at the rate of Rs 200 per embarking passenger. Aviation Security Fee for international passengers will be levied at the rate of $12 or equivalent Indian Rupees embarking passengers. The new rates will be effective on tickets issued on or after April 1, 2021," the DGCA had said in an earlier order.

Term insurance plans

The term insurance policies may get costlier as re-insurers players have increased the premiums rates and all protection plans offered by domestic insurers are supported by these re-insurers, experts opine.

According to Indraneel Chatterjee, Co-Founder and Principle Officer at RenewBuy, the number of claims has been rising and the mortality rate has grown by far, resulting in rise in premium for re-insurers. Thus, it is expected to make an impact on the premium offered by insurers.

Published : April 01, 2021 12:56 PM IST

From air travel to term insurance: Here's a list of things that may become expensive from today

You May Also Like

Karnataka to purchase 1 crore Covishield doses; no decision on free vaccination yet, says Deputy CM

Panasonic to buy US supply-chain software firm Blue Yonder for $7.1 billion

Ind Ra revises down India's FY22 GDP growth forecast to 10.1%

Trending on CNBC-TV18

recommended for you