Budget 2020: Govt proposes to cut import duty on newsprint to 5%

Finance Minister Nirmala Sitharaman on Saturday proposed to cut import duty on newsprint to five percent. government in last budget h imposed 10 percent basic customs duty on newsprint and lightweight coated paper.

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"However, since n I have received several references that this levy has put ditional burden on print media at a time when it is going through a difficult phase. I, refore, propose to reduce basic customs duty on imports of newsprint and light-weight coated paper from 10 percent to 5 percent," she said while presenting Union Budget for 2020-21.

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Indian Newspaper Society has earlier urged government to save newspaper industry by scrapping 10 percent duty imposed on newsprint and uncoated paper used for printing newspapers, and lightweight coated papers for magazines. total consumption of standard newsprint in India is 2.5 million tonnes and indigeus mills have a capacity of 1 million tonnes only, INS h said. 

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