Government to impose 10 per cent import duty on wheat

Government has decided to impose 10 per cent import duty on wheat to discourage wheat importers, applicable from 31 March 2016 after the gap of eight years.
This move was taken in wake of increased overseas purchase of wheat when adequate domestic stock is present in India.
The recent heavy purchase of over 5 lakhs tonnes of high-protein Australian wheat was done by some private firms in India had drawn signs of worry to Indian Agriculture Ministry.
To overcome this situation and to do justice with the domestic wheat cultivator government today decided to levy 10 per cent import duty on purchase of overseas wheat.

Month: Current Affairs - August, 2015