In the next budget, a proposal focusing on Make in India will be presented

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New delhi date. 28 January 2020, Tuesday

The government may increase import duty on more than 5 items to boost Make in India in the budget presented on February 3. These will be more involved in sectors such as paper, tire, chemical, footwear.

Import duty can be increased on about 4 items. Chemical, paper industry is ready to promote. Import duty can be doubled. The Ministry of Commerce recommends increasing the duty. Import duty on rubber tires is 5%. At present rubber tires have 1-5% import duty.

Import duty on footwear is increased from 5% to 5%. Double duty import duty is possible on coated paper, paper boards. Duty on the raw materials wood pulp to the paper industry will decrease. Implementation of double duty import duty on chemical products will be considered.

The Finance Minister may announce a national logistics policy in the budget presented this Saturday. The logistic policy will emphasize freight and transportation to be less expensive.

According to sources, the National Logistics Policy may propose to create a single platform for all types of logistics.

In addition, there is a proposal to create a national logistics e-marketplace. The new policy will simplify paperwork for Noor. Special features for trade, export, import can also be announced.

The new policy also proposes to provide basic facilities to the logistics sector on easy terms. Apart from this, emphasis will be placed on better technology in logistics.

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