In a bid to control galloping inflation that is now over six per cent and to cut the cost of manufacturing and infrastructure projects, the government has slashed import duty on 11 items. The Finance Ministry announced removal of customs duty on cement, specified capital goods, project imports and carbon black feedstock. It also cut customs duty on calcined alumina, ferro alloys stainless steel and other alloy steel. Customs duty on primary and semi-finished forms of copper, aluminium, zinc, tin and other base metals have also been reduced. In the recent weeks, manufactured items as a group have shown price increases contributing to the overall inflation rate,. which climbed to 6.12 per cent for the week ended January 6, the highest in two years. Economists have seen a cost-push factor for prices of manufactured items moving up.
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