-PTI/ The Hindu Currently, basic customs duty on crude palm oil is 15%, while it is 45% for all other categories of palmolein. The government on Tuesday reduced basic customs duty on crude palm oil to 10%, which will help bring down the edible Oil Prices in the retail market. The Central Board of Indirect Taxes and Customs (CBIC) in a notification cut the basic customs duty on crude palm oil to 10%...
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The Great Petro Robbery - Subodh Varma
-Newsclick.in Modi government has been mercilessly hiking up taxes on petrol and diesel to take money from the people and boost its resources. Since the prices of petroleum products were deregulated some years back and supposedly “linked” to markets, the central government has weaponised this to simply impose an indirect tax burden on the people. Take the four big metros: Delhi, Mumbai, Kolkata and Chennai. On an average, petrol prices have increased from...
More »200 Plus Days - Farm Laws, Farmers and Food -SG Vombatkere
-TheCitizen.in The Farmers’ agitation starting November 26 2020, was against three Farm Laws. The Essential Commodities Amendment Act, 2020, (ECA Act) is one of them. ECA Act amends the Essential Commodities Act, 1955, (EC Act) enacted “in the interest of the general public, for the control of the production, supply and distribution of, and trade and commerce”, and more precisely, “for controlling the rise in prices or preventing the hoarding of any...
More »Why edible Oil Prices are on fire -Shubham Shankhdhar
-IndiaToday.in India’s edible oil demand far exceeds domestic production. At least 60 per cent is met through imports, and global prices are soaring. Is there a way out? These days, aside from the coronavirus, Ajay Kumar a 40-year-old a resident of Tagore Garden in West Delhi, finds himself worrying about inflation. He says his monthly spending on essentials like vegetable oils has been steadily rising—a litre of mustard oil now costs him...
More »Retail inflation soars to 6.3%, a 6-month high
-The Hindu Rural areas see sharper spurt; WPI inflation races to record 12.94% spurred by rise in fuel, edible oils Retail inflation hit a six-month high of 6.3% in May, thanks to a persistent rise in fuel and edible Oil Prices, which also played a part in pushing wholesale prices to a record 12.94% inflation in the month, as per data released on Monday. Consumers experienced an inflation of 11.58% for the ‘fuel...
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