Government makes wheat imports duty-free
In view of rising wheat prices, the government has cut the 10 per cent duty on wheat imports to zero with immediate effect.
To improve the availability of wheat in the country, the government has made wheat imports duty-free. Earlier, wheat imports attracted a 10 per cent duty. The step was taken in view of rising wheat prices. The Meteorological Department, for its part, has also forecast a milder winter this time, which could affect the 2016-17 wheat crop.
Finance Minister Arun Jaitley tabled the notification removing the import duty on wheat in the Lok Sabha. He said that under the notification of 8 December 2016, the import duty on wheat has been cut from 10 per cent to zero with immediate effect. There is no end date. The notification of 17 March 2012 has been amended for this purpose. This will improve the domestic availability of wheat and keep in check the rising prices of wheat products such as flour (atta).
The Congress and the JD(U), however, opposed the move, calling the decision anti-farmer and a conspiracy. Private traders have so far imported 17.2 lakh tonnes of wheat, and total imports this year are expected to cross 20 lakh tonnes.
