MUMBAI (Reuters) - The government said on Wednesday it raised import tariffs on 19 "non-essential items," in a bid to reduce the country's widening current account deficit and tackle a dramatic slide in the rupee.
The new tariff structure, which goes into effect Thursday, will see the government raise customs duties on items such as air conditioners, refrigerators, footwear and aviation turbine fuel, among other items.
The government had earlier said it was contemplating such a move to take pressure off the rupee, which has weakened by more than 12 percent so far this year.
The total value of imports of the 19 items in last fiscal year ended March was about 860 billion Indian rupees ($11.84 billion), the government said in a circular.
($1 = 72.6050 Indian rupees)
(Reporting by Abhirup Roy; Editing by Euan Rocha)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
