Kisan Mitra PM to extend wheat import duty

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Indianmandarins has learnt that the government may extend the wheat import tax beyond March till end-September to protect farmers from cheap imports particularly as wheat from fresh harvest may start hitting markets by the first week of April. After consulting the food, farm and trade ministries, the finance ministry is said to have taken this decision.

An import tax of 10 percent in August last year was imposed following big wheat imports from overseas. In October 2015, the government raised the import tax, which expires on March 31, to 25 percent.The government  may review its decision in June when it may have a clear idea about the size of this season’s crop.

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