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Government imposes 30% import taxes on certain pulses

By Olga
|

The Indian government has decided to impose a hefty import duty of 30% on channa and masoor dal effective from 21st of December 2017, reports PTI. The move was made to curb cheaper shipments and boost local prices that have fallen after record production.

Government imposes 30% import taxes on certain pulses
 

The finance ministry is reportedly said to have imposed the tax to protect interests of farmers as cheap imports will likely affect the prices of local produce which is expected to be high this rabi season.

Tur dal and yellow peas attract 10% and 50% of import duty respectively at present. Other pulses, however, are duty-free.

India is the largest producer of pulses in the world. Although we are quite self-sufficient, imports seem attractive due to low international prices.

The area under production for pulses is said to be higher than that of last year. With 2016-2017 output reaching a record high of 23 million tonnes, it is expected that this year's production would be higher.

Also read: What is MSP or Minimum Support Prices?

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