Opinion | The need customs duty rationalization4 min read 08 Nov 2018, 09:26 PM IST
Rationalization of customs duty and prevention of FTA misuse will give a fillip to domestic output
A second round of hikes in import duties was announced recently, this time on telecom equipment. This is a move to not only curb imports but also rein in a rising current account deficit (CAD), aiming to check the rupee’s weakness against the dollar. The Indian rupee has been one of the worst performing currencies among the emerging markets in this calendar year. The hike in customs duties is seen as too little to trigger any reasonable correction in CAD.
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