Reuters
India will raise taxes on certain goods and services including kitchenware to 18% from 12%, the finance ministry said, a move that is likely to upset many consumers and businesses facing rising inflation. Kitchen utensils, LED lights, farm machinery, solar water systems as well as services like work contracts for roads, irrigation projects, hospitals and educational institutions would now be charged at the higher rate, the ministry said. India's consumer price index-based inflation rose 7.04% year-on-year in May, after touching an eight-year high of 7.79% in April, but remained above the central bank's tolerance band of 6% for a fifth month in a row.