Top News
Next Story
NewsPoint

Centre allows duty-free imports of 20 lakh tonne crude soy, sunflower oil each

Send Push
IANS
24th May, 2022 22:03 IST


This move comes amid rising retail and wholesale inflation in the country, and the government believes it would give a significant relief to consumers.

The notification will come into effect with immediate effect, the notification said.

India fulfills a major portion of its edible oil requirements through imports. However, the ongoing war in Ukraine has led to short supply of sunflower oil as both the countries involved in the war - Russia and Ukraine - are its major producers.

During the weekend, the government reduced excise duties on petrol and diesel, cut import duties on some raw materials needed for steel production, and announced subsidies for Ujjwala gas beneficiaries.

--IANS
ad/vd



Explore more on Newspoint
Loving Newspoint? Download the app now