Which ministry announced the reduction in import duty on major edible oils?
- A.Ministry of Finance
- B.Ministry of Commerce and Industry
- C.Ministry of Agriculture and Farmers Welfare
- D.Ministry of Consumer Affairs, Food and Public Distribution
Correct answer
Explanation
The correct answer is the Ministry of Consumer Affairs, Food and Public Distribution, which put out this announcement along with the advisory to the edible oil associations. The reason it and not another ministry speaks here is that the stated purpose of the step is to moderate retail prices of cooking oil and to shield the household budget from imported inflation, which falls squarely within the consumer affairs and food distribution mandate. Option A is tempting because customs duty is a tax matter, and it is a useful reminder that the ministry which announces a measure need not be the one that collects the levy. Option B deals with trade policy and option C with the interests of the oilseed grower, and both of those interests are mentioned in the announcement, but neither ministry issued it.
Read the full article: Crude Sunflower Oil Import Duty Cut to Nil, Palm and Soybean to 5%
Practice Questions
The Basic Customs Duty on crude sunflower oil has been reduced to which level?
- A.5%
- B.Nil
- C.7.5%
- D.10%
Show answer
Among the oils covered by this decision, crude sunflower oil is the only one whose Basic Customs Duty was taken all the way down to zero, from the earlier level of 10%.
Read the full explanation →What import duty differential between crude and refined edible oils has the government maintained?
- A.8.25%
- B.13.75%
- C.19.25%
- D.22.50%
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While cutting the duty on crude oils, the government also trimmed the duty on the matching refined oils, but it kept the distance between the two rates at this level rather than letting it shrink.
Read the full explanation →Which two prices were edible oil companies asked to revise immediately after the duty cut?
- A.Minimum Support Price and Fair and Remunerative Price
- B.Price to Distributors and Maximum Retail Price
- C.Wholesale Price Index and Consumer Price Index
- D.Issue Price and Central Issue Price
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The advisory issued to the edible oil associations and other industry stakeholders asks them to bring both of these down in step with the lower landed cost, and to advise member firms to act without delay, so that the gain from the tariff cut is not retained in the supply…
Read the full explanation →What was the theme of the 14th India Chem 2026 held in Mumbai?
- A.Advantage Bharat: An Emerging Global Chemicals Hub
- B.Chemicals for a Viksit Bharat
- C.Green Chemistry, Green Growth
- D.Make in India, Mix in India
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The 14th edition of India Chem was organised in Mumbai from 22 to 24 October 2026 as a three-day event aimed at drawing investment and promoting sustainable growth in chemicals and petrochemicals.
Read the full explanation →Which of the following is NOT one of India's three operational Petroleum, Chemicals and Petrochemicals Investment Regions?
- A.Dahej in Gujarat
- B.Paradeep in Odisha
- C.Visakhapatnam-Kakinada in Andhra Pradesh
- D.Haldia in West Bengal
Show answer
India has three operational PCPIRs: Dahej in Gujarat, Visakhapatnam-Kakinada in Andhra Pradesh and Paradeep in Odisha. Haldia is not among them, so option D is the exception.
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