The government plans to reduce duties on raw materials for steel, beverage, healthcare, and personal care industries in the upcoming budget. Proposed reductions include lowering the regulatory duty on ferro alloys from 15% to 5%, customs duty on Tetra Pak from 25% to 0%, and customs duty on dialysis filters and circuits from 10% to 1%. Additionally, customs duty on isopropyl myristate is expected to decrease from 25% to 10%. Industry insiders view these moves positively, anticipating benefits for competitiveness and consumer pricing. Ferro alloys are crucial for steel production, with the country needing 2.4 lakh tonnes annually. The reduction aims to alleviate production costs. Beverage manufacturers welcome the reduction in Tetra Pak duty, citing its environmental friendliness. The reduction in duty on dialysis equipment is seen as relief for kidney patients, while the cosmetics industry expects growth with lower duty on isopropyl myristate.
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