After the budget, customs duty can be increased on many items in different sectors.
In this budget, an announcement can be made to increase customs duty on many types of imported goods.
Increasing custom duty will help the government's Make in India campaign and encourage domestic manufacturing.
To promote domestic manufacturing, the government is preparing to increase customs duty on about 35 goods.
The list of goods on which the government plans to increase Custom Duty has been received from the concerned ministries.
After reviewing the product, the government has made up its mind to increase the customs duty on about 35 items.
These 35 products include private jets, helicopters, high-end electronic items, plastic items, jewelry, high-gloss paper, and vitamins.
Let us tell you that in order to promote the manufacture of these goods in India, their import is being made expensive.
The government is worried about the current account deficit, that's why it is trying to reduce imports.
The current account deficit had reached a nine-month high of 4.4 percent in the July-September quarter.