As a matter of principle, tax proposals were not considered in the interim budget on February 1, but a comprehensive review of customs duties in the light of various free trade agreements (FTAS) is due and is expected after May, the officials said, requesting anonymity.
"If some specific changes are required urgently to safeguard any particular sector, a decision could be taken even earlier after thorough scrutiny and stakeholders' consultations," one of them said. In order to encourage domestic manufacturing, the government did rationalise import duties on various mobile phone components a day before the interim budget, he added.
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