| Date: |
20-02-2012 |
| Subject: |
India to Impose 19 pct Tariff on Imported Power Equipment: Report |
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NEW DELHI, Feb. 19 (Xinhua) -- The Indian government will impose up to 19 percent tariff on imported power equipment with a clear aim to benefit domestic manufacturers, reported local daily Indian Express Sunday.
A mandatory domestic procurement provision will also be inserted in all future tenders for ultra mega power plants, said the report.
The decision was made last Friday at an inter-ministerial group meeting following intervention by the Prime Minister's Office earlier this month.
The Finance Ministry earlier gave its consent to 5 percent custom duty, 10 percent countervailing duty and 4 percent additional duty.
The meeting also decided that the Power Ministry will draw up a cabinet note on this by next week and the matter should be brought before the cabinet Committee of Economic Affairs by February-end.
Source : shanghaidaily.com
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