Government Hikes Customs Duty On Wheat To 40%

The government has hiked the customs duty on wheat to 40% from 30% to curb imports and protect the domestic industry. The government wants to restrict overseas purchase so that domestic prices of wheat do not come under pressure as the country’s wheat output is expected to scale a record high. The country’s wheat production this season might cross 100 million tonnes an all-time high.

Source: Economic Times

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