Government plan to increase Import Duties

In a plan to boost indigenous production of goods and to encourage Micro, Small and Medium Enterprises (MSMEs), the Government, in a very recent development, plan to increase import duties on sectors heavily dependent on import. This is a part of the Government ambitious plan launched in May this year called the Aatmanirbhar Bharat Abhiyaan to encourage indigenous production of goods in India to discourage import and encourage indigenous production of goods. The Government aim to promote local manufacturing and production and in this light the Prime Minister have launched the scheme of Aatmanirbhar Bharat Abhiyaan. In course of time, the Government plan to reduce its heavy reliance on import across all the sectors. This is one of the flagship programme of the Government of India.

Dr. Amit Bhaskar, Associate Professor, Unitedworld School of Law (UWSL)

Disclaimer: The opinions / views expressed in this article are solely of the author in his / her individual capacity. They do not purport to reflect the opinions and/or views of the College and/or University or its members.