2-The Government Extends Import Duty Relief On Lentils For An Additional Year

1. The Government Extends Import Duty Relief On Lentils For An Additional The Government Extends Import Duty Relief On Lentils For An Additional Year Year To combat the nation's high food inflation, the Central Board of Indirect Taxes and Customs (CBIC) has issued an order extending the one-year exemption for masur dal, a lentil, from the agriculture and infrastructure development cess when imported into India. This exemption, which has been in place since October 2021, will expire on March 31, 2025. As per the decision, the concessional rate of the taxes for crude palm oil, crude sunflower seed oil, and crude soyabean oil would not change until March 31, 2024. When imported, crude palm oil is subject to a concessional 7.5% tax, but crude soybean and sunflower seed oils are subject to a concessional 5% tax. For these goods, the government has reduced the basic customs charge. India saw a sharp increase in food inflation in November, rising from 6.61% in October to 8.7%. Data from the statistics ministry show that in November, the inflation rate on pulses increased to 20%. Tradologie.com is a user-friendly SaaS-based global trade hub and your streamlined B2B rice procurement and sales solution. Connect with global bulk edible oil buyers or bulk edible oil sellers, bypass middlemen for higher profits, and secure the best bulk prices effortlessly. Simplify your rice sales or procurement with Tradologie.com. Edible-oil producers and edible-oil sellers can quickly get the best price on the platform if they sell edible-oil in bulk, while buyers can buy edible-oil in bulk from vendors across

2. the globe. No middlemen are involved, and the company facilitates the entire process, guaranteeing maximum profits in the shortest time frame. Government Initiatives and Challenge Government Initiatives and Challenges Amidst Rising Food Inflation s Amidst Rising Food Inflation The administration has been very concerned about the high cost of food, especially since the nation will be voting in new elections. The PM Garib Kalyan Anna Yojana, the Center's free grain distribution program, has already been extended five years until 2028. Under this extension, underprivileged households would receive five kilograms of grains each month. It has also implemented many administrative measures to maintain price stability for necessities such as rice, sugar, legumes, vegetables, and edible oils. Industry associations have been asked to ensure domestic non-basmati rice prices are lowered to ideal levels and to take stringent measures against profit-seeking behaviour. The unpredictable monsoon this year, which has already influenced the expansion of the farm sector, is predicted to keep pressure on food prices high. Agriculture and related industries increased by just 1.2% in the September quarter, compared to 2.5% growth in the same time the previous year. If you are an edible-oil importer wishing to buy edible-oil in bulk or an edible-oil exporter willing to export bulk edible-oil, then Tradologie.com is the right platform. Tradologie.com is a next-generation SaaS platform that facilitates bulk agro-trade across the globe. Through tradologie.com’s interface, buyers can avail themselves of the best qualities of agro-commodities at negotiable rates. The transaction-oriented platform has 600,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 150 countries. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.