Big setback! You will pay more for flying, shoes, ACs, fridges, jewellery, even tyres now!
A range of imported products including air conditioners, household refrigerators, washing machines and radial car tyres will get costlier with the government on Wednesday hiking the basic customs duty in a bid to curb the import of non-essential items to check the burgeoning current account deficit.
The import duty on air conditioners, household refrigerators and washing machines less than 10 kg has been hiked from 10 to 20 per cent. Image source: Reuters