Wednesday, February 7, 2018

Import duty on sugar raised to 100% and BCD on chana to 40%

The government has doubled import duty on sugar from 50% to 100% and raised Basic Customs Duty (BCD) on chana from 30% to 40% to protect domestic farmers. The aim is to curb cheaper imports and ensure lucrative prices to domestic farmers. India’s sugar production has been increased from 20.3 million tonnes(MT) in 2016-17, as per industry data to 26.1 MT in the current 2017-18 marketing year (October-September) that is approximately 4% more. In case of chana, a record production of overall pulses to nearly 23MT in 2017-18 has been seen.readmore@CBEC

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