Pulses importers have something to cheer for what the Budget has not done to them. Finance Minister Arun Jaitley has chosen to leave the duty-free status of imported pulses untouched. Imports of pulses are currently at nil duty, but the extant exemption expires on March 31.

Market participants were unnerved when the Economic Survey released on Friday argued in favour of imposing customs duty to contain excessive imports.

"There is an increasing demand for opening up of the export of pulses which would incentivise farmers to invest in pulses cultivation and for a reasonable duty structure to be devised to contain excessive import," the Survey said.

Earlier, the Ministry of Agriculture had supported a 10 per cent customs duty on imported pulses to protect domestic growers from depressed prices.

In 2013-14, 37 lakh tonnes of pulses were imported when the country’s production was a record 193 lakh tonnes. In the current year, imports are projected at 45 lakh tonnes valued at over ₹15,000 crore as inclement weather and lower acreage have affected pulses harvest to about 180 lakh tonnes.

If pulses importers are relieved, the vegetable oil trade is sore that the Budget has left the rate of customs duty on imported oils untouched.

Currently, duty on crude oil is 7.5 per cent and on refined oil 15 per cent. Following a decline in international prices due to excess supplies relative to demand, the domestic trade petitioned the government for a further hike in duty to protect domestic producers.

In 2013-14, 116 lakh tonnes of various oils including 79 lakh tonnes of palm oil and 20 lakh tonnes of soyabean oil were imported. Shipments in 2014-15 are projected to rise by about six lakh tonnes to reach a new high.

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