After this year’s Budget, the Central Government has reduced the import duty on the following essential commodities, inter alia, aimed at stabilizing the prices of these commodities in the country, namely:-

Reduction in import duty on wheat from 25% to 10% with effect from 23.09.2016 for a period upto 28.02.2017 [notification No.51/2016-Customs, dated 23.09.2016] which was subsequently further reduced to Nil with effect from 08.12.2016 without any end date [notification No.60/2016-Customs, dated 08.12.2016].

Reduction in import duty on potatoes from 30% to 10% with effect from 23.09.2016 for a period upto 31.10.2016 [notification No.51/2016-Customs, dated 23.09.2016].

Reduction in import duty on crude palm oil of edible grade from 12.5% to 7.5%, and on refined palm oil of edible grade from 20% to 15% [notification No.51/2016-Customs, dated 23.09.2016].

This was stated by Shri Santosh Kumar Gangwar, Minister of State in the Ministry of Finance in written reply to a question in Lok Sabha.

Import duty reductions on essential commodities to stabilise prices following targeted customs tariff adjustments. Central Government reduced import duty on wheat, potatoes and edible palm oil via Customs notifications to stabilise domestic prices. Wheat duty was lowered in stages culminating in a nil duty under a subsequent notification; potatoes received a temporary reduction to ten percent; crude and refined edible palm oil duties were reduced by specified tariff points. The adjustments were announced by the Minister of State for Finance in a parliamentary written reply and implemented through formal notifications under the Customs framework.