- The Cabinet today approved hike in import duty of sugar to 40% from current 25% and withdrew duty free import of raw sugar. Both measures are aimed at curbing overseas supplies. It has also removed a 12.36% excise duty on ethanol supplied for blending with petrol.
- Also in another move, to improve the ease of doing business, the Cabinet approved amendments to the companies law that do away with a mandatory declaration by a firm before commencing business. The changes have also been cleared to fast-track the approval process for draft notifications aimed at granting exemptions from various provisions of the Companies Act.
- The Cabinet also decided to continue its Rs 1,000 per minimum monthly pension scheme in perpetuity, a move which would benefit over 20 lakh pensioners under social security scheme run by EPFO.
Cabinet nods for hike in import duty of sugar, amendments in Companies bill
Objective To envisage various incentives for startups so as to enable the success. Provision of ...