Consider the following statements with reference to indirect taxes in Budget 2020.
1. Custom duty was raised on footwear from 25% to 35% and on furniture goods from 20% to 25%.
2. Basic customs duty on imports of newsprint and light-weighted coated paper was reduced from 10% to 5%.
Which of the statements given above is/are correct?

A

Both 1 and 2

B

Only 1

C

Only 2

D

Neither 1 nor 2