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Rice Export Restrictions: Existing contracts below $1,200 per tonne have been kept in abeyance

The government has decided not to allow exports of basmati rice below USD 1,200 per tonne to restrict possible "illegal" shipment of white non-basmati rice in the garb of premium basmati rice.

India is one of the few countries to have opted for a more intricate structure, featuring four or more tax slabs. GST slabs in India are 0%, 5%, 12%, 18% and 28%. The complexity escalates as cess is applied to certain luxury and ‘sin products, such as cars. Furthermore, cess rates vary based on factors like the vehicles length and fuel type, be it petrol or diesel.

The commerce and industry ministry said on Sunday that it directed trade promotion body Agricultural and Processed Food Products Export Development Authority (Apeda) not to register contracts below $1,200 per tonne. Existing contracts below $1,200 per tonne have been kept in abeyance.

Exclusive for Subscribers from Monday to Friday: Have you ever thought about how diethylene glycol and ethylene glycol are relevant to the UPSC Exam? What significance do topics like Restriction on imports and Registration of Births and Deaths (Amendment) Bill, 2023 have for both the preliminary and main exams? You can learn more by reading the Indian Express UPSC Key for August 8, 2023.

The Indian government on Thursday restricted the import of laptops, PCs tablets, and other consumer-electronic devices. The move is believed to be aimed at boosting domestic manufacturing and targets China, the origin of 75% of India’s imports of such devices, worth $5.33 billion in 2022-23, as frosty diplomatic ties persist between the two Asian economic powerhouses, a report by RT said.

Modi-led government aims to transform India into an electronics-manufacturing hub and to reduce dependence on tech imports from China Read Full Article at RT.com

The manufacturing value-add in computers would be a tiny fraction of the value added in services compromised by restricted IT imports. For a few million dollars’ worth of forced manufacture, should India make life difficult for a trillion-dollar technology and technology enabled services industry?

Exclusive for Subscribers from Monday to Friday: Have you ever thought about how restricted imports of computers and laptops or The Jan Vishwas Bill 2023 are relevant to the UPSC Exam? What significance do topics like India’s Nuclear Doctrine and the Digital Personal Data Protection Bill, 2023 have for both the preliminary and main exams? You can learn more by reading the Indian Express UPSC Key for August 4, 2023.

The Indian government on Thursday restricted the import of laptops, PCs tablets, and other consumer-electronic devices. The move is believed to be aimed at boosting domestic manufacturing and targets China, the origin of 75% of India’s imports of such devices, worth $5.33 billion in 2022-23, as frosty diplomatic ties persist between the two Asian economic powerhouses, a report by RT said.