Govt cuts import tax on wheat, crude palm oil, refined oils
New Delhi: India has cut the import tax on wheat, crude palm oil and refined vegetable oils, a finance ministry order showed on Friday, as part of efforts to curb food inflation.
New Delhi lowered the wheat import tax to 10% from 25%. The import duty on crude palm oil and refined edible oils have been reduced to 7.5 and 15% respectively, the order posted on a government website, showed.
India, the world’s biggest edible oil importer, used to levy 12% import tax on crude palm oil and 20% on refined vegetable oils. Reuters