Raid of income tax increased concern of onion traders
Raid of income tax increased concern of onion traders

New Delhi: After a nationwide raid on the onion traders' warehouses and shops, onion prices recorded a decline of Rs 5-10 per kg on Tuesday amid panic in the mandis. On receipt of information of onion hoarding, the Income Tax Department on Monday started raids against the onion traders.

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Sources said that despite the increase in onion arrivals, the Income Tax Department started raiding the establishments of onion traders across the country from Monday on the information of hoarding and betting, which continued on Tuesday. Business sources said that there was panic among the mandis due to the raid of the Income Tax Department, due to which the arrival of onions in Azadpur Mandi, Delhi, was low on Tuesday.

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The wholesale price of onion in Azadpur mandi was Rs 30-50 per kg, while onion sold in the market a day ago at Rs 40-55 per kg. Onion arrivals were around 1,500 tonnes on Tuesday, compared to around 2,000 tonnes a day earlier. Let us tell you that to control the inflation of onions, the government has recently decided to import one lakh tonnes of onions and MMTC, the country's largest government company doing foreign trade, has also issued two tenders for importing onions.

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