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Tax hike on crude palm oil imports could reduce shipments, says FM Nirmala Sitharaman India cut the basic import tax on crude palm oil to 15% from 27.5%, but imposed a 17.5% cess - a separate tax - on the imports, Sitharaman said in her federal budget speech PTI | February 2, 2021 | Updated 09:05 IST Union Finance Minister Nirmala Sitharaman India has imposed an additional tax on crude palm oil imports as the world s biggest importer of vegetable oils tries to build domestic agriculture infrastructure by taxing imports, Finance Minister Nirmala Sitharaman said on Monday. India cut the basic import tax on crude palm oil to 15% from 27.5%, but imposed a 17.5% cess - a separate tax - on the imports, Sitharaman said in her federal budget speech.

Nirmala sitharamanSudhakar desaiIndian vegetable oil producer associationExtractor associationFinance minister nirmala sitharamanSolvent extractor associationUnion finance ministerCrude palm oil importsTax on crude palm oil importsTax hike on crude palm oil importsBasic import tax on crude palm oilBudget 2021Budget 2021 oil importsBudget 2021 crude oil importsSitharaman budget 2021சுதாகர் தேசாய்