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Economists ask Modi govt to be more outward-looking in upcoming Budget

Economists suggested how to bring growth back to normal. That was the dominant theme discussed, sources said.

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Economists wanted the Budget to further rationalise corporation tax and the GST Council to alter the indirect tax rates

Indivjal Dhasmana Abhishek Waghmare New Delhi

3 min read Last Updated : Jan 13 2021 | 8:43 AM IST

Economists have cautioned the government against rising protectionism and urged it to reduce customs duties on certain items in the Budget for 2021-22.

“Economists gave varied suggestions. One of them was to lower some of the import duties. We should be more outward-looking than inward-looking,” a source said.

The remarks assumed importance as the World Trade Organization (WTO) has taken up the trade policy review of India where hikes in customs duties have emerged as one of the major topics. A WTO report said India’s average tariff had increased to 14.3 per cent in 2020-21 from 13 per cent in

Topics : Union Budget Modi govt Indian Economy Budget 2021

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