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.
TSPSC Notes brings Prelims and Mains programs for TSPSC Prelims and TSPSC Mains Exam preparation. Various Programs initiated by TSPSC Notes are as follows:-
- TSPSC Mains Tests and Notes Program
- TSPSC Group I Prelims Exam 2024- Test Series and Notes Program
- TSPSC Prelims and Mains Tests Series and Notes Program
- TSPSC Detailed Complete Prelims Notes