Business News
Home > Business News
More than 300 items may see customs duty hike in Budget
TIWN
TIWN
![More than 300 items may see customs duty hike in Budget More than 300 items may see customs duty hike in Budget](http://www.tripurainfoway.com/viewimage.php?src=http://www.tripurainfoway.com/news_pic/2020/1-1579253233.jpg&w=567)
PHOTO : TIWN
New Delhi, Jan 17 (TIWN) As a measure to boost domestic small and medium industry, the government may consider a hike in customs duty on over 300 items like toys, furniture, footwear, coated paper, rubber items among other in the Union Budget.
Besides giving relief to the domestic industry and boosting employment, the move aims to keep imports down and help raise revenue. Many of these are industries which are essentially concentrated in the small and medium sectors and employment intensive. The Commerce and Industry Ministry in its budget recommendations has proposed rationalisation of basic customs on over 300 items across sectors including furniture, chemicals, rubber, coated paper and paper boards.
Add your Comment
Comments (0)
More Business News
- India's business activity surges to 3-month high in July
- Rs 6.67 lakh crore investment needed by 2031-32 to expand thermal power capacity
- Adani Energy Solutions posts 73 pc net profit growth in Q1, revenue surges 43 pc
- Centre's fiscal consolidation plan will boost India's credit profile: Global agencies
- Experts clarify new capital gains tax regime for realty sector