Peas Import: Food inflation will remain under control! Government extended the exemption period for yellow pulses

Peas Import: Food inflation will remain under control!  Government extended the exemption period for yellow pulses

The relief now being provided to the people who are suffering due to inflation is going to continue in future also. The government is continuously taking measures to control inflation, especially that of food items. In the latest case, the government has made another attempt to control the prices of pulses.

Duty-free import time extended

The central government has extended the duty-free import of yellow pulses. The deadline has been extended. An official gadget notification regarding this was issued late Thursday evening. According to the notification, now duty-free import of yellow lentils can be done till April 2024. Earlier its deadline was to end in March i.e. next month. The government had also changed this deadline in December and extended it till March 2024. Now the timeline has been extended by one more month.

Imports happen from these two countries

The government has already made several efforts to keep food inflation under control. It's over. 50 percent duty was imposed on yellow pulses in November 2017. Later, when inflation increased, the government decided to remove the fee. India mainly imports yellow pulses from Canada and Russia.

High consumption of these pulses in India

If we talk about pulses, many types of pulses are produced on a large scale in India. Is produced and consumed. In India, pulses like gram, urad, arhar, kabuli gram are mostly used. Most of the country's domestic needs are met through local production, but some quantity has to be dependent on imports. Yellow pulses account for the largest share in the import of pulses.

To control the prices of other pulses, the government has also imposed stock limits. The stock limit for pigeon pea and urad dal was earlier imposed till October 2023, which was later extended till December 2023. The limit for wholesalers and chain retailers was reduced from 200 metric tons to 50 metric tons.

This is the current level of inflation in India

In recent times, there has been a softening of inflation in the country. Has been. According to official data, retail inflation came down to 5.10 percent in January, which was 5.69 percent in December 2023. However, retail inflation is still above the target. RBI has been given the target of keeping the inflation rate below 4 percent. This is the reason why the Reserve Bank decided not to reduce interest rates even in the Monetary Policy Committee meeting held in February.

Also read: Added value equal to Reliance in one day, this single company became bigger than the entire Sensex.

Get more latest business news updates

Scroll to Top