Chandigarh: Prices of branded garments are set to go up by '2 to 5 per cent' with the Union government levying excise duty on ready-made products of Rs 1,000 or more in the Budget 2016-17.

While presenting the Budget, Union Finance Minister Arun Jaitley said, "I propose to change the excise duty on branded readymade garments and made up articles of textiles with a retail sale price of Rs 1,000 and above from 'Nil without input tax credit or 6 per cent/12.5 per cent with input tax credit' to '2 per cent without input tax credit or 12.5 per cent with input tax credit'."