| Date: |
25-07-2015 |
| Subject: |
No decision yet on slapping import duty on wheat |
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NEW DELHI: The government today said it has not yet taken a decision to impose duty on wheat imports.
"As on date, there is no such government decision to impose import duty on wheat," Commerce and Industries Minister Nirmala Sitharaman said in a written reply to the Lok Sabha.
At present, there is no import duty on wheat. But the Food Ministry has proposed 10 per cent import duty to curb cheaper shipments as the country already has surplus stock.
The ministry has moved this proposal as private traders have been importing large quantity of wheat due to lack of good quality wheat in the domestic market.
Private traders have already contracted 5,00,000 tonnes of wheat from Australia and are planning to buy another 5,00,000 tonnes from other countries.
Wheat production in India, the world's second biggest grower, is estimated to have declined to 90.78 million tonnes in 2014-15, as against the record production of 95.85 million tonnes achieved during 2013-14.
Still, the government has a huge stock of wheat at over 40 million tonnes due to bumper procurement this year and carryover stock from the previous years.
Source : economictimes.indiatimes.com
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