Government gave a big statement regarding onion amid elections

Business News: Rising prices of onion in India even lead to changes in the government. Such incidents have also happened in history. In such a situation, amidst the elections, the government has taken a big decision regarding the export of onions, their export has now become costlier by 40 percent. Whereas, except in a few cases, there is already an overall ban on export of onion in the country. Yes, the government has made adequate quantity of onion available in the country. There should be no reduction in supply in accordance with the increasing demand in summer and prices should also remain controlled. For this, there is a ban on export of onion from the country. Only some friendly countries like United Arab Emirates (UAE), Bangladesh and Sri Lanka are allowed to export a certain quantity of onion.

New order will come into effect from May 4
Now the Finance Ministry has issued a new notification, according to which 40 percent duty will have to be paid on the export of onion from the country. This notification has come into effect from May 4. The government had also imposed 40 percent export duty on onion export in August last year, which was valid till December 31, 2023.

Relief given for these goods
On one hand, the government has imposed duty on export of onion on Friday itself. To meet the shortage of gram dal in the country, it has been decided to give duty exemption on import of indigenous gram. This exemption from import duty will be available till 31 March 2025.

At the same time, under the ‘Bill of Entry’ to be issued before 31 October 2024, the government will not charge any duty on ‘Yellow Peas’ imported from abroad. Desi gram and yellow peas are used to supply gram flour in the country. ‘Bill of Entry’ is a legal document which is filed by importers or customs clearance agents before the imported goods land. Apart from increasing the export duty on onion, all other changes made will also be considered effective from May 4