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Import Duty on Wheat Doubles to 20 Percent

Published on November 09, 2017
The government has doubled the import duty on wheat to 20 percent.

  • The decision is taken to curb cheap shipments and give positive price signal to farmers in the ongoing Rabi season.
  • The import duty on peas has been increased to 50 percent to control cheaper shipments from countries like Canada.
  • Recently, the government had also imposed quantitative restrictions on import of other pulses like tur.
  • The government aims to give positive price signal and encouragement to farmers to grow wheat in more area as the Rabi season has started.
  • India produced a record 22 million tonnes of pulses in 2016-17 crop year and also imported about 5 million tonnes of pulses last fiscal.

What is import duty?

  • Import duty is a tax imposed on imports and some exports by the customs authorities of a country. 
  • It is usually based on the value of the goods that are imported. 
  • Depending on the context, import duty may also be referred to as customs duty, tariff, import tax and import tariff.

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