Reuters ahead with key India economic news

Reuters was first to report that India plans to increase import duties on more than 50 items including electronics, electrical goods, chemicals and handicrafts, targeting about $56 billion worth of imports from China and elsewhere – a move aimed at reviving sagging economic growth. Separately, Reuters revealed that India’s corporate and income tax collection is likely to fall this year for the first time in at least two decades, amid a sharp fall in economic growth and cut in corporate tax rates.