gs1medium

Consider the following statements:

  1. 1.The quantity of imported edible oils is more than the domestic production of edible oils in the last five years.
  2. 2.The Government does not impose any customs duty on all the imported edible oils as a special case.

Which of the statements given above is/are correct?

  1. A.1 only
  2. B.2 only
  3. C.Both 1 and 2
  4. D.Neither 1 nor 2
▶ Answer & Explanation

Correct answer: A. 1 only

India is a major importer of edible oils, and the domestic production has consistently fallen short of demand, necessitating significant imports to meet consumption needs. While customs duties on edible oils are a policy tool to manage domestic prices and support farmers, they are not uniformly zero on all imported edible oils, as the government uses varying duty structures to balance supply, price, and revenue considerations.

Source: UPSC gs1 2018

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