Government Bans Duty Free TV Imports from August 26; Says The Move Unrelated To Falling Rupee

Amidst speculations that the government was seriously contemplating to extend its decision to hike import duty of items like Gold, Silver and Platinum to non-essential goods like TVs and refrigerators in order to curb the current account deficit, we first heard that the decision was shelved due to India’s compliance with various international treaties with [...]