Import duty on bamboo for agarbatti industry hiked to 25%
In an effort to curb another import from China, India on Tuesday hiked import duty on bamboo for agarbatti (incense stick) to 25 per cent.
“Customs duty on bamboo imports by agarbatti manufacturers hiked from 10 per cent to 25 per cent with immediate effect to encourage use of domestic bamboo for AtmaNirbhar Bharat,” Central Board of Indirect Taxes and Custom (CBIC) said in a tweet. CBIC is apex policy making body for indirect taxes such as Goods & Services Tax (at Central level) and Custom Duty.
Pesticide ban: PMFAI wants Centre to a high-powered committee check Anupam Varma Committee’s report
Indian agrochemicals companies are getting their legal teams ready for a court battle if the Centre goes ahead and bans 27 generic pesticides.
On May 14, the Agriculture Ministry had issued a draft notification intending to ban the chemicals as it has found they were harmful for humans and animals. In the notification, the Ministry has given time until June 27 to all the stakeholders for submitting their objections and suggestions.
Castorseed output revised down at 19.62 lakh tonnes
Climatic adversity such as untimely rains, strong winds and hailstorms in parts of castor-sowing regions of Gujarat is set to cause a dip in the output of the oilseed.
In its final crop estimate, trade body Solvent Extractors’ Association of India (SEA) has revised its castor crop outlook for the year 2019-20 downward by about 3.5 per cent or 74,000 tonnes to 19.62 lakh tonnes (lt) as against the first estimate of 20.36 lt reported in February this year.