Higher import duty for non-essentials mooted

August 09, 2013 10:53 pm | Updated November 16, 2021 09:30 pm IST - NEW DELHI

An inter-ministerial panel has suggested higher taxes for non-essential imports with a view to curbing inward shipments and containing the current account deficit.

The committee has also suggested a list of non-essential items the import of which could be compressed, with a view to bridge the trade gap. The committee has already submitted its report to Chidambaram and according to sources some steps are likely to be announced soon.

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