GyanGramConsider the following statements 1. The quantity of imported edible oils is more than the domestic productio…
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Consider the following statements
1. The quantity of imported edible oils is more than the domestic production of edible oils in the last five years.
2. The Government does not impose any customs duty on all the imported edible oils as a special case.
Which of the two statements given above is/are correct
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• Correct Answer: A
• India's edible oil imports consistently exceed domestic production, meeting over 50% of domestic demand.
• The government imposes customs duties on imported edible oils (effective rates of 16.5% for crude and 35.75% for refined as of 2025).
• Statement 2 is incorrect.
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