2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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22.44%
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32.44%
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12.44%
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42.44%
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Detailed explanation-1: -The share of edible oils in major imports across India was at about three percent in financial year 2021, slightly higher than the previous year.
Detailed explanation-2: -India Edible Oils Market was worth US$ 3.54 Bn in 2020 and total revenue is expected to grow at a rate of 6.82 % CAGR from 2021 to 2027, reaching almost US $ 5.72 Bn in 2027.
Detailed explanation-3: -SEA estimated in May that India was likely to import 12.9M tonnes of edible oils from November 2021 to October 2022.
Detailed explanation-4: -So, the effective duty is 13.75 per cent. For refined soyabean and sunflower oil, the basic customs duty is 17.5 per cent and taking into account 10 per cent social welfare cess, the effective duty comes to 19.25 per cent. The Central Board of Indirect Taxes and Customs (CBIC) in a notification no.