Home Appliances To Toys, Steep Duty Hike To Pinch Consumers

New Delhi: In an effort to lift the domestic MSMEs, keep imports down and raise revenue, the Indian government on Saturday hiked customs duty on several products, indicating a price rise soon for millions of consumers across the spectrum – from household appliances to electric vehicles and even toys. A day prior to the Budget […]

Toys

New Delhi: In an effort to lift the domestic MSMEs, keep imports down and raise revenue, the Indian government on Saturday hiked customs duty on several products, indicating a price rise soon for millions of consumers across the spectrum – from household appliances to electric vehicles and even toys.

A day prior to the Budget 2020, IANS had reported on that 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.