New Delhi [India], Feb 1 (ANI): The central government on Saturday announced the reduction in basic customs duty on imports of newsprint and light-weight coated paper from 10 per cent to 5 per cent in the Union Budget for FY2020-21.
Union Finance Minister Nirmala Sitharaman, while presenting the Budget in Parliament on Saturday said that she had received references saying that the levy on newsprint has put additional burden on the print media at a time when it is going through a difficult phase.
The Budget further proposed to abolish anti-dumping duty on PTA (Purified Terephthalic Acid).
"PTA is a critical input for textile fibres and yarns and its easy availability at competitive prices is desirable to unlock immense potential in the textile sector which is a significant employment generator," said the Finance Minister. (ANI)