Citing the increase in retail prices, the Reserve Bank of India (RBI) in its latest periodic policy released on Friday expressed concerns about pulses inflation..
Pulses importers have urged the Centre to reduce import duty on masoor and tur, which are in short supply in the domestic market and their prices have shot up since the nationwide lockdown began on March 25 to prevent spread of Covid-19.
“The government needs to reduce import duty of 33 per cent on masoor and 10 per cent on tur to allow their import to help ease retail prices. There is no need to reduce 50 per cent import duty on chana as its supply is sufficient,” said Bimal Kothari, MD of Pancham International, a city-based pulses importer and trader.
The lockdown brought factory operations and movement of goods to a standstill. While pulses processing units continued to operate with less
First Published: May 26 2020 | 7:18 PM IST