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What is the primary reason behind India's recent increase in import tax on edible oils?
  • a)
    To reduce the reliance on foreign countries for oil imports
  • b)
    To support local farmers facing low oilseed prices
  • c)
    To improve the quality of edible oil available in the market
  • d)
    To encourage the consumption of domestic edible oils
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
What is the primary reason behind India's recent increase in import ta...
The increase in import tax on edible oils is primarily aimed at supporting local farmers who are struggling with low oilseed prices. By raising the import duties, the government seeks to make imported oils more expensive, thereby encouraging consumers to buy more domestically produced oils, which can help stabilize local farmers' incomes. This move reflects a broader strategy to enhance agricultural self-sufficiency in India.
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What is the primary reason behind India's recent increase in import tax on edible oils?a) To reduce the reliance on foreign countries for oil importsb) To support local farmers facing low oilseed pricesc) To improve the quality of edible oil available in the marketd) To encourage the consumption of domestic edible oilsCorrect answer is option 'B'. Can you explain this answer?
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