Fiscal and Administrative Measures to Contain Inflation.
FINANCE Minister Pranab Mukherjee told the Parliament yesterday:
++ Import duties reduced to zero on rice, wheat, pulses, onion, edible oils (crude), and to 7.5 per cent on refined and hydrogenated oils and vegetable oils;
++ Maintained the Central Issue Price (CIP) for rice (at Rs 5.65 per kg for BPL and Rs 3 per kg for AAY) and wheat (at Rs 4.15 per kg for BPL and Rs 2 per kg for AAY) since 2002.
++ Duty under Tariff Rate Quota for Skimmed Milk Powder (SMP) reduced from 15% to 5% for import upto an aggregate of 10000 metric tonnes in a financial year. National Dairy Development Board (NDDB) has been allowed to Import of 30,000 tonnes of Milk Powder and 15,000 MT of related products at zero per cent concessional duty for the year 2011-12.
++ The export of all varieties of onions was prohibited w.e.f 9th September, 2011. Later the prohibition on export of onions was withdrawn w.e.f 20th September 2011 and export of all varieties of onions is now allowed.
++ Import of raw sugar allowed at zero duty under open general licence (OGL).
++ Banned export of edible oils (except coconut oil and forest based oil) and pulses (except Kabuli chana and organic pulses up to a maximum of 10000 tonnes per year)
++ Export of milk powders (including skimmed milk powder, whole milk powder, dairy whitener and infant milk food), Casein and Casein products has been prohibited with effect from 18.02.2011.