Edible oil will be cheaper! Government abolished custom duty for two years

New Delhi: The possibility of cooking oil becoming cheaper has increased. Actually, the government has taken a big decision on edible oil. The government has abolished custom duty for 2 years. Custom duty on import of soybean and sunflower oil has been abolished. Agriculture and basic duty and development cess have also been abolished. It was told by the government that for two financial years (2022-23, 2023-24), import duty free of 20 lakh metric tonnes of crude soybean oil and crude sunflower oil has been made every year.

The government has said that customs duty and agriculture basic duty and development cess have been abolished. That is, import of edible oil will be allowed without payment of these taxes. It is believed that this will bring great relief to the consumers. Earlier, relief was given by the government in petrol-diesel and LPG cylinders. The Center has reduced the excise duty on petrol by Rs 8 and diesel by Rs 6, making petrol cheaper by Rs 9.50 and diesel by Rs 7 per liter. Along with this, the government has also announced a subsidy of Rs 200 per cylinder on LPG cylinders. This subsidy will be provided on 12 gas cylinders in a year to the beneficiaries of Pradhan Mantri Ujjwala Yojana.

Let us tell you that the possibility of a decrease in the price of edible oils, which reached a record high level for a few days, was being expressed. Indonesia, the world's largest producer of palm oil, has decided to lift the ban on exports. For this reason, people in India were expected to get relief on the edible oil front.

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