Government targets TV imports by airline passengers as rupee plummets
REUTERS - India will ban the duty-free import of flat-screen televisions from August 26, the government said in a statement on Monday, adding to a package of measures designed to prop up the rupee by stemming the flow of foreign currency out of the country.
Government officials estimated that more than 1 million television sets were brought into the country last year -- many from Dubai, Thailand and Singapore -- under a scheme that allowed airline passengers to bring in screens worth up to 35,000 rupees as part of their baggage allowance.
Under the new rules, passengers will have to pay a 35 percent duty and other charges, the officials said. (Reporting By Manoj Kumar and Rajesh Kumar Singh. Writing by Shyamantha Asokan)
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
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