Inflation and price hikes are causing significant concern across Assam, with essential goods like groceries, vegetables, medicines, and liquid petroleum gas seeing sharp increases. Experts suggest that recent changes in export and import duties may be fueling this surge in prices.
During an interview with Business North East (BNE) journalist Jyotishman Sharma, the chairman of Duliajan Numaligarh Pipeline Ltd (DNPL) Vijay Kumar Gupta said, "Assam exports a good number of products, and with the export duty removal, inflation should not be an issue. Exports contribute to the state's revenue, which is a crucial factor in its economic growth."
Vijay Kumar Gupta, Chairman, DNPL
The former chairman of the Assam Financial Corporation went on to clarify that while exports help generate revenue, the real concern lies with the import duties. "When goods like groceries or essential items are imported from other states, the import charge used to be zero. With recent changes, we are seeing a rise in prices," he said.
Vijay Kumar Gupta emphasized that "Revenue from exports plays a significant role in boosting Assam's economy. However, when it comes to imports, controlling the duties on goods is critical to controlling the prices of everyday items."
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Removal of export duties Assam’s revenue and overall economic growth, Gupta highlighted that it is the adjustments in import duties on goods from other states that are directly contributing to the inflationary pressure being felt by the citizens of Assam.
These insights point to a need for a balanced approach to managing import duties in order to ease the financial burden on residents.
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