Inverted duty structure is a condition in which final good is taxed lower on its import as compared to the intermediate good used in the making of finished good. The economic survey has pointed out that Inverted dusty structure has affected our industries a lot.
Major effect of inverted duty structure:
- Affect domestic manufacturing industries. They will be at disadvantage.
- Lack of creation of jobs as it does not support demands for domestic goods.
- Higher Import bill will ultimately affect the Current account deficit.
- Will affect the Make in India initiative.
- The pattern of jobless growth will continue. The benefits of growth will not percolate down and hence it will affect the inclusivity.
- Flooding on Indian markets with foreign goods eg. Chinese goods
Hence there is a need to correct this inverted duty structure trend and Government has recognised this anomaly and has reduced the rates.
WBPCS Notes brings Prelims and Mains programs for WBPCS Prelims and WBPCS Mains Exam preparation. Various Programs initiated by WBPCS Notes are as follows:-
- WBPCS Mains Tests and Notes Program
- WBPCS Prelims Exam 2020- Test Series and Notes Program
- WBPCS Prelims and Mains Tests Series and Notes Program
- WBPCS Detailed Complete Prelims Notes