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Government sets up task force on ways to reduce import
The Union Government constituted a high-level task force under Chairmanship of Cabinet Secretary PK Sinha to identify various items and policy interventions to reduce dependence on imports. It will suggest ways to cut import of those items which can be ..
Month: Current Affairs - July, 2018
India notifies higher tariffs on 29 items imported from US
India has notified higher tariffs on 29 items imported from United States (US). This is was in retaliation against US announcement imposing tariffs on steel and aluminium items — 25% and 10% respectively — imported from all countries except Canada ..
Month: Current Affairs - June, 2018
Government hikes import duty on non-palm oils by 5-10%
The Central Board of Indirect Taxes and Customs (CBITC) under Finance Ministry has raised import duty by 5-10% on non-palm edible oils, both crude and refined ones, in order to protect interest of domestic oilseeds growers and processors. Key Facts ..
Month: Current Affairs - June, 2018
India-China trade hits record $84.4 billion in 2017
According to data of Chinese General Administration of Customs, India-China bilateral trade has reached $84.44 billion last year, a historic high with 18.63% year-on-year growth rate. This is regarded as historic landmark in bilateral relations of both countries, as volume ..
Month: Current Affairs - March, 2018
Government imposes anti-dumping duty on sodium nitrate imports from China
The Union Finance Ministry’s Revenue Department has imposed a five year anti-dumping duty on Sodium Nitrite imports from China. It was imposed based on recommendations of Directorate General of Antidumping and Allied Duties (DGAD). In its sunset review, the DGAD ..
Month: Current Affairs - August, 2017
Union Government scraps import duty on wheat
The Union Government has waived the import duty on wheat to zero from 10 per cent for an indefinite period. This move aims to improve domestic availability in the wake of rising prices and concerns about the wheat crop in ..