00:00Indirect taxes. I shall now take up proposals related to indirect taxes. My proposals for
00:07customs and central exercise aim to further simplify the tariff structure, support domestic
00:14manufacturing, promote export competitiveness and correct inversion in duty. To continue
00:23weeding out long continuing customs duty exemptions, I propose to remove certain exemptions on
00:31items which are being manufactured in India or where the imports are negligible. Similarly,
00:39to further simplify the process of ascertaining the rate of duty applicable on a particular
00:45item, I propose to incorporate certain effective rates in various customs notifications to the
00:52tariff schedule itself. I shall now take up sector-specific proposals.
01:00Promotion of exports of marine, leather and textile products. I propose to increase the
01:06limit for duty-free imports of specified inputs used for processing seafoods for export from
01:16the current 1% to 3% of FOB value of the previous year's export turnover. I also propose to
01:26allow duty-free imports of specified inputs which is currently available for exports of leather or
01:34synthetic footwear to exports of shoe uppers as well. I propose to extend the time period for export of
01:45final product from the existing 6 months to 1 year for exporters of leather or textile garments, leather or synthetic footwear and other leather products.
02:00Energy transition and security. I propose to extend the basic customs duty exemption given to
02:06capital goods used for manufacturing lithium-ion cells for batteries to those used for manufacturing
02:14lithium-ion cells for battery energy storage systems also. I propose to exempt basic customs duty on
02:23import of sodium anti-monate for use in manufacture of solar glass.
02:33Nuclear power. I propose to extend the existing basic customs duty exemption on imports of goods required
02:42for nuclear power projects till the year 2035 and expand it for all nuclear plants irrespective of their capacity.
02:54Critical minerals. It is proposed to provide basic customs duty exemption to the import of capital goods required
03:03for the processing of
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