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More than 300 items may see customs duty hike in Budget
TIWN
More than 300 items may see customs duty hike in Budget
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.

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