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Import Control by Tariffs
The opinion of the President of the FICCI, Ramanbhai Amin, that the tariff mechanism is a "better and more potent mechanism" for the regulation of imports than blanket restrictions or quotas is shared by the committee which is reviewing the working of the Tariff Commission. In its interim report the committee has arrived at a similar judgment. And, in any case, devaluation and the consequent readjustment of import duties followed by liberalisation of maintenance imports are, in effect, steps in this direction. What still remains to be dene, however, is to locale the areas —by commodities and lines of credit—where it is possible to substitute licenses by quotas.
The opinion of the President of the FICCI, Ramanbhai Amin, that the tariff mechanism is a "better and more potent mechanism" for the regulation of imports than blanket restrictions or quotas is shared by the committee which is reviewing the working of the Tariff Commission. In its interim report the committee has arrived at a similar judgment. And, in any case, devaluation and the consequent readjustment of import duties followed by liberalisation of maintenance imports are, in effect, steps in this direction. What still remains to be dene, however, is to locale the areas —by commodities and lines of credit—where it is possible to substitute licenses by quotas.
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