New Delhi [India]: In a bid to provide relief to farmers, the Centre announced a two-fold increase in the import duty levied on wheat, thereby assisting reduction of cheap shipments and providing positive price signal in the ongoing Rabi season.
In a statement issued by the Central Board of Excise and Customs (CBEC), it was noted that the import duty on wheat was increased from 10 to 20 percent, with a 50 percent import duty levied on peas.
This, the Centre claims, would provide a much-needed thrust to domestic price of crops and curtail imbalanced shipment prices.
Earlier in the year, taking cognizance of the fall in the price of wheat attributable to bumper crop, the Centre had levied an import duty of 10 per cent. However, this has been given a surge in order to shield farmers from unreasonable import orders. (ANI)