The Central Government on Thursday extended the import duty exemption given to tur and urad dal for another year, till March 31, 2025, according to an order issued by the Director General of Foreign Trade (DGFT). Effective since October 2021, this let-off will now continue till March 31, 2025.

       The development comes at a time when India is experiencing high food inflation, which rose to 8.7 per cent in November, up from 6.61 per cent in October. Prices of pulses have seen an inflation of 20 per cent in November. Recently, the Centre had also extended the import duty exemption for masur dal by one year to March 2025.

       Click here to follow our WhatsApp channel

       PM Garib Kalyan Anna Yojana, the free grain distribution programme of the central government, was also extended by a duration of five years to 2028. Under the provision of the scheme, impoverished households are provided 5 kg of grains on a monthly basis.

       A drop in domestic production has led to a surge in tur prices in the past. Recently, the prices have stabilised from Rs 156.5 in November to Rs 154 per kg in December. Expecting a drop in domestic production, the central government extended the duty-free import policy in January for tur and urad dal until March 31, 2024.

       In October, Business Standard reported that tur and urad production might fall to their lowest levels in the last three years in this kharif season, citing an analysis by the Bank of Baroda (BoB).

       The production of tur in the 2023 kharif season is seen around 3.22-3.27 million tonnes, as against 3.31 million tonnes in the 2022-23 season, a fall of around 2.7 per cent from last year, the analysis showed. Urad production is seen about 1.5-1.6 million tonnes, as against last year's 1.77 million tonnes.

       Also Read

       Centre likely to lower basmati MEP, tightens stock limits on tur and urad

       Pulses prices stabilise as rains revive over major growing states

       CHATROOM: DGFT should review circular on sale of IPA from SEZ to DTA

       India's tur, urad production might fall in kharif 2023, says BoB analysis

       Wheat prices in Delhi soften after stock limit, but pulses yet to fall

       Bad assets of banks decline multi-year low to 0.8% in Sept: RBI report

       Rupee ends higher, far forward premiums climb to over 2-month high

       Dollar dips across board as traders stay fixed on US rate cuts next year

       India likely to remain fastest growing major economy in 2024: Assocham

       Pakistan's current economic model not working, says World Bank official