Government imposes 10 % import duty on wheat, turdal

Union Government has imposed 10% import duty on wheat and tur dal with immediate effect to protect farmers’ interest amid projection of a record crop this year. Earlier in December 2016, government had reduced customs duty on wheat to 0 from 10% to boost domestic availability and check retail prices. There has been nil duty on tur dal. The estimated revenue implication of this decision is about Rs. 840 crore at the current levels of imports. The move will help curb sharp fall in the wholesale prices of these commodities and ensure support price to farmers.

Month: Current Affairs - March, 2017