Sunday, September 8, 2013

Government to unveil new measures to curb inessential imports

- India will announce many new measures in the next few days and weeks to curb non-essential imports in order to strengthen the rupee and contain inflation, Finance Minister P. Chidambaram said on Saturday.

The government has already banned duty-free import of flat-screen televisions from August 26, adding to a package of measures designed to prop up the rupee.

\"I hope that all these measures taken together will have a beneficial impact on inflation,\" Chidambaram told lawmakers.

He added that no decision has been taken to raise fuel prices.

Government officials said on Friday that India may announce more measures to curb fuel consumption later this month and raise diesel prices by close to 10 percent soon in a bid to cut the biggest item in its import bill and support the rupee.
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