Which department notified the extension of the customs duty exemption on cotton imports?
- A.Department of Revenue, Ministry of Finance
- B.Department of Commerce, Ministry of Commerce and Industry
- C.Department of Agriculture and Farmers Welfare
- D.Office of the Textile Commissioner, Ministry of Textiles
Correct answer
Explanation
The correct answer is the Department of Revenue, Ministry of Finance. Customs duty is a tax, so changes to it are notified by the revenue side of the Finance Ministry, in this case through a customs notification dated the end of October. Option D is the trap most candidates fall into: the Ministry of Textiles is the ministry that asked for relief and publicly welcomed the decision, but it does not have the power to exempt a duty. Option B is wrong because the Department of Commerce frames foreign trade policy and handles export promotion rather than tariff exemptions. Option C is wrong because the agriculture department deals with the growers' side, including minimum support prices for cotton, and not with import duties. Remember the division of work: the Finance Ministry notifies, the Textiles Ministry benefits and welcomes.
Read the full article: Cotton Import Duty Exemption Extended to 31 December 2026
Practice Questions
Up to which date has the Government of India extended the customs duty exemption on cotton imports?
- A.31 October 2026
- B.30 November 2026
- C.31 December 2026
- D.31 March 2027
Show answer
The exemption from customs duty on cotton brought into the country now runs up to the end of December.
Read the full explanation →By how long was the existing customs duty exemption on cotton imports extended?
- A.One month
- B.Two months
- C.Six months
- D.One year
Show answer
The exemption in force was available until the end of October, and the amendment carries it to the end of December, which adds exactly two months to the window.
Read the full explanation →Which of these is NOT among the stated aims of extending the cotton import duty exemption?
- A.Augmenting cotton availability for the domestic textile sector
- B.Supporting Micro, Small and Medium Enterprises
- C.Raising the minimum support price paid to cotton growers
- D.Promoting value addition across the textile and apparel chain
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The exemption is an import measure and has nothing to do with the price assured to farmers, although the government has said it remains conscious of farmers' interests while taking such steps.
Read the full explanation →The CCI has approved the merger of Sapphire Foods India Limited with and into which company?
- A.Navi Limited
- B.Vodafone Idea Limited
- C.Devyani International Limited
- D.Maya SAS
Show answer
The Competition Commission of India cleared the merger of Sapphire Foods India Limited with and into Devyani International Limited along with certain related transactions.
Read the full explanation →MIH Payments Holdings B.V., cleared to acquire shareholding in Navi Limited, is a subsidiary of which company?
- A.Prosus N.V.
- B.Maya SAS
- C.Shell Overseas Investment B.V.
- D.Devyani International Limited
Show answer
MIH Payments Holdings B.V. is an indirect and wholly owned subsidiary of Prosus N.V., and by itself it does no business other than holding investments in portfolio companies that have activities in India.
Read the full explanation →