Centre extends Customs duty exemption on masoor dal until 31 March 2025 to stop inflation
The Centre has extended the Customs duty exemption on masoor dal by a year to March 2025 in order to keep food inflation in check.
This exemption, effective since October 2021, will now last until March 31, 2025, as opposed to the earlier notification of March 31, 2024, according to an order issued by the Central Board of Indirect Taxes and Customs (CBIC).
Food inflation, which accounts for nearly half of the overall consumer price basket, rose by 8.7 percent during November compared to 6.61% in October as the prices of vegetables such as onion, fruit, and pulses went up sharply during the month, according to the latest data released by the Ministry of Statistics.
The prices of pulses, which are the main source of proteins in the country’s diet, shot up by a whopping 20.2 percent during the month while vegetable prices increased by as much as 17.7 percent and fruits turned costlier by 10.9 percent.
The government is taking various measures to bring down food prices such as the ban on exports and reducing customs duty on edible oils.
[With Inputs from IANS]
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