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Mr Mukherjee also increased import duties and production taxes on fuel.
The Russian government recently increased import duties on foreign cars older than seven years, which are the main competitors for new Russian cars.
But as Alan Gutnov, a blogger from Vladivostok points out in a very informative post on Live Journal, the imported used car business is one of the key sectors of the local economy -- along with fishing and wood exports -- and the increased import duties could have a devastating effect.
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Increased import duty on high-end luxury motor vehicles and yachts.
Tim Murphy, a Pennsylvania congressman, is championing a bill that would give Congress power to review presidential decisions on whether or not to increase import duties in the face of sudden dislocations.
Increasing import duties while the Fed increases the money supply and keeps interest rates low would have an astronomical net cost to the American consumer.
The price increase comes just days after the Indian government announced it was increasing import duties on mobile phones and other related accessories to 15%and20%0% beginning April 1, a 5%-105%-10%ease from the previous level.
New Zealand timber was increasingly displaced by imported timber such as Douglas fir, cedar and redwood, despite increasing import duties on timber.
The deal means the island will not have to introduce either a property tax or payroll tax this year but it will have to increase import duty on "non-essential watercraft" and other luxury goods as well as introducing fees on transfers conducted by money remittance companies and increasing work permit fees.
As Asian exports continue to collapse, the region is responding in kind.This week Vietnam increased import tariffs on dairy products, after raising duties on paper last month.
In order to bring in immediate revenue, Andros also received approval to increase the import duties on alcohol.
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