Govt halts three crucial policy initiatives as revenues shrink: Report

The government has dropped at least three crucial policy initiatives, including lowering import taxes on vegetable oils, as the outbreak of the coronavirus hits government revenue collection, two sources said on Tuesday. India's income tax revenues contracted 3.

5% in the first 11 months of the current fiscal year, which began in April 2019, and income from other taxes grew by a meagre 3.8%, the finance ministry told parliament on Monday. The food ministry had proposed lowering import taxes on crude and refined vegetable oils,.....

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