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Announcing this pre-budget benefit, minister told the media that majority of the consumers will benefit from this action, due to reduction of prices.
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He said this reduction will cost the government around 1,500 million rupees per month.
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According to the announcement, the levy of following food commodities will reduce in following manner.
Item | Prevailing Duty Rate | New Duty Rate | Duty Reduction |
(Rs. Per kilo) | (Rs. Per kilo) | by (Rs. Per kilo) | |
Sprats | 11 | 1 | 10 |
Potatoes | 40 | 1 | 39 |
B’ onions | 40 | 1 | 39 |
Lentils - whole | 10 | 1 | 9 |
Lentils - Split | 15 | 3 | 12 |
Dried fish | 102 | 52 | 50 |
Palm oil/other veg. oil - crude | 110 | 95 | 15 |
Palm olen | 115 | 100 | 15 |
Palm stearin | 110 | 95 | 15 |
Refine palm oil | 135 | 110 | 25 |
Other veg. oil refine | 130 | 105 | 25 |
Palm Kernal – crude | 130 | 105 | 25 |
Refine | 145 | 110 | 35 |
Coconut oil (Crude/ Refine) | 130 | 105 | 25 |