The government has no immediate plans to further cut the import duty on wheat to a zero level as overseas purchase of the grain still works out to be cheaper at the current customs duty level.
On September 23, the import duty on wheat was reduced to 10% from 25% to boost supplies and check prices during Dusshera and Diwali festivals.
“There was no pressure on domestic wheat prices during the festival period and prices are ruling stable. So, there is no immediate plans to cut import duty on wheat to zero level,” a senior government official told PTI.
Also, wheat imports are …read more
Source: Daily News & Analysis
