Government extends Customs duty exemption on masoor dal till March 2025
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The government on Friday 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 per cent 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 per cent during the month while vegetable prices increased by as much as 17.7 per cent and fruits turned costlier by 10.9 per cent.
The government is taking various measures to being down food prices such as the ban on exports and reducing customs duty on edible oils.
