Budget 2024: Remedial steps to fire up local manufacturing

Budget: India may take steps to correct the inverted duty structure on a number of goods by rationalising levies on several products that are inputs for electronics, copper tubes and pipes, ferro alloys, textile staple fibres and certain chemical preparations to lift local manufacturing, people familiar with the move said.

The government has drawn up a list of finished products that are subject to lower import duty than the materials needed to make them, or an inverted duty structure.