Poll math powers duty on edible oil

The NDA government decision to lift export curbs on onions and Basmati rice and to increase import duty on edible oil which is set to bring soybean at the minimum support price (MSP) rates came as a major relief for the state BJP, Shiv Sena and NCP - the alliance partners in Mahayuti government.

- Ravikiran Deshmukh

The government increased the basic customs duty on crude palm, soybean and sunflower seed oil from nil to 20 per cent, and the basic customs duty on refined palm, soybean and sunflower oil from 12.5 per cent to 32.5 percent. It also cut the duty on onion export to 20 per cent from 40 per cent, which was in place since May 4. CM Eknath Shinde and his deputies Devendra Fadnavis and Ajit Pawar were quick to hail the decision and thanked Prime Minister Narendra Modi.