On February 1, 2018, the Union Budget raised Customs duty on as many as 46 items in a bid to “provide adequate protection to the domestic industry”. This was the fifth and last full Budget of the Narendra Modi government in its first term.
But that was not the first time the Modi government betrayed its protectionist tendencies. In the earlier four Budgets, presented by then finance minister Arun Jaitley, Customs duty was raised, but on only a few items. In the first three Budgets, the reasons cited for the duty increases ranged between “boosting domestic ...
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