The government has extended the period of free import policy of urad and tur dal by one year i.e. till March 31, 2025. A notification in this regard has been issued by the Ministry of Commerce and Industry on Thursday 28 December. Earlier, a few days ago, the Central Government had decided to extend the reduced import duty regime on edible oils – refined soybean oil and refined sunflower oil till March 2025. Along with edible oils, import duty exemption on lentils was also extended till March 31, 2025. The purpose of these steps taken by the government is to curb food inflation.

An official notification from the Finance Ministry said the reduced duty was scheduled to end in March 2024, but will now continue till March 2025. Earlier, the government had reduced the basic import duty on refined soybean oil and refined sunflower oil from 17.5% to 12.5%. This reduction in duty will reduce the cost of these oils coming into the country, which will reduce domestic prices and provide relief to the people.

Let us tell you that food inflation increased to 8.70 percent in November, which was 6.61 percent in the previous month. Food inflation accounts for almost half of the overall consumer price basket, placing a burden on many households and a cause for concern for the government in view of the general elections in 2024.

To increase domestic supply and maintain price stability, the government has announced that there will be no restriction on import of tur and urad dal till March 2025. These pulses will continue to fall in the free category, allowing unrestricted imports.