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Lifting of QR's will boost revenue inflows: Maran

Commerce and Industry Minister, Murasoli Maran, on Monday said that lifting of Quantitative Restrictions (QRs) on the remaining 715 items would check smuggling and give an impetus to revenue collections.

''The lifting of QRs is not going to make any impact on the majority of the people, and the rich ones who even otherwise make use of these imported items could buy it from the domestic market that would add to tax revenue,'' Maran said while speaking at a workshop on the new Exim policy organised by FICCI.

Maran said the standing group set up to monitor the inflows of 300 sensitive items would provide a monthly data to determine the extent of the imports.

This ''war room'' consisting of the Commerce, Revenue and secretaries of related departments besides the Directorate General of Import and Export would help in preventing any unfair trade practices and destabilise import surge and dumping, he said.

On the ''Weapons in the government's armoury''to prevent unchecked imports, Maran said the Centre could always take recourse to tariff adjustments, Anti-Dumping Measures and countervailing duty.

ALSO READ:
Exim Policy 2001-2002: Full coverage
Union Budget 2001-2002: Full coverage

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