Why in the News?
The Government of India has exempted Customs Duty on 40 petrochemical products till June 30, 2026, to reduce supply disruptions and cost pressures caused by the West Asia conflict.
Key Highlights
- Customs duty exemption for 40 petrochemical products
- Valid till: June 30, 2026
- Notification issued: April 1, 2026
- Objective: Ensure supply stability and reduce input costs
Major Products Covered
Important petrochemical items include:
- Polypropylene
- Polystyrene
- Polyols
- Polybutadiene
- Styrene Butadiene
- Anhydrous Ammonia
- Purified Terephthalic Acid (PTA)
- Mono Ethylene Glycol (MEG)
| [2018] Consider the following statements: 1 The quantity of imported edible oils is more than the domestic production of edible oils in the last five years. 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? (a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2 |
