The Indian Newspaper Society has earlier urged the Government of India to scrap the 10 percent duty imposed on newsprint and uncoated paper used for printing newspapers and light – weight coated papers for magazines.
February 1, 2020
Widening fiscal deficit target of 3.3 percent to 3.8 percent to boost the economy of India, BJP-led Government tabled the Union Budget 2020-21 in the Lok Sabha.
Finance Minister Nirmala Sitharaman in the Union Budget 2020-21 has announced slashing down the custom duty on import of newsprint and lightweight coated paper from 10% to 5%.
While presenting the Union Budget for 2020-21, FM Nirmala Sitharaman said, “In the previous budget, basic custom duty of 10% was imposed on the newsprint and lightweight coated paper. However, since then I have received several references that this levy has put additional burden on print media at a time when it is going through a difficult phase. I, therefore, propose to reduce basic customs duty on imports of news print and light-weight coated paper from 10% to 5%.”
