Higher import duty for non-essentials mooted

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.