India Coal Tax Cut Won’t Boost Imports

Reuters reported that Indian imports of thermal coal are not likely to rise even though the import tax has been cut.

As quoted in the market news:

Finance Minister Pranab Mukherjee announced in his annual budget that power companies would not have to pay a 5.1 percent import duty on thermal coal for a period of two years, trying to boost electricity generation in the energy-deficient country.

Click here to read the full Reuters report.