Question

    Recently Indian government raised the import duty on

    wheat to _______ from 30% as domestic prices had dropped, to discourage cheaper wheat imports?
    A 40% Correct Answer Incorrect Answer
    B 45% Correct Answer Incorrect Answer
    C 50% Correct Answer Incorrect Answer
    D 55% Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    India raised the import duty on wheat to 40% from 30% as domestic prices had dropped, to discourage cheaper wheat imports. But to curb increasing domestic wheat prices that might accentuate inflationary pressures, the Centre will scrap the 40% import duty on wheat soon.

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