Footwear, ACS, Fly­ing to Get Costlier

Shoes & Accessories - - The Month That Was -

The gov­ern­ment has in­creased cus­toms du­ties on 19 items, in­clud­ing air con­di­tion­ers, re­frig­er­a­tors, wash­ing ma­chines, footwear and avi­a­tion tur­bine fuel. Thus, they goods as well as fly­ing is all set to get more ex­pen­sive.

The gov­ern­ment said it has raised cus­toms du­ties on these items to curb nonessen­tial im­ports in an ef­fort to nar­row the cur­rent ac­count deficit. The cur­rent ac­count deficit is the dif­fer­ence between the value of the goods and ser­vices a coun­try im­ports and those it ex­ports.

The Cen­tre said the in­crease in cus­toms du­ties will come into ef­fect from Septem­ber 27. It added that the to­tal value of im­ports of these items was around ` 86,000 crore in the 2017-’18 fi­nan­cial year.

In­dia’s cur­rent ac­count deficit widened to ` 1.14 lakh crore dur­ing the sec­ond quar­ter of the 2018-’19 fi­nan­cial year from ` 1.08 lakh crore a year ear­lier, and con­sti­tutes 2.4% of the Gross Do­mes­tic Prod­uct.

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