Union Budget 2020: Protection, evasion prime concerns

To achieve higher export credit disbursement, a new scheme, NIRVIK, is being launched

This Union Budget takes forward the government’s agenda to protect Indian industries from import and strengthen the enforcement mechanisms to counter evasion or circumvention of duties. 

Duty exemptions are being pruned for import of certain agro and animal-based products, some items of basic metals, machinery for use in specified projects, copper and certain articles for use in manufacture of electronic items, and some sundry items. Import duty is raised on household goods and appliances, electrical appliances, footwear, furniture goods, stationery items, toys, certain machinery and miscellaneous products. Also under the phased manufacturing programme on electric vehicles and components of cellular