Center imposed 40 percent export duty on onions, will there be relief from inflation now?

The Center is hopeful that increasing the export duty will reduce the export of onions, which will increase the stock of onions in the domestic market. In this case the prices will come down.

The central government has taken a big step to curb the rising inflation in the retail market. On Saturday, he announced the imposition of 40 percent export duty on onions. The special thing is that for this a notification has also been issued by the government. It has been said in the notification that 40 percent export duty has been imposed on onions, which will remain in force till 31 December.

In fact, last week the news came out that onion will become expensive in the country from September. Onion, which was available at Rs 25 to 30 per kg, will start selling at Rs 60 to 70 per kg from next month. With this, inflation will once again reach the seventh sky. In such a situation, experts say that sensing the possible inflation, the government has already become alert. This is the reason why he imposed 40 percent duty on onion exports till 31 December.

Will sell onion from buffer stock

At the same time, last week the central government had announced that it would release 3 lakh tonnes of onions from the buffer stock in the open market. The government is feeling that with the arrival of 3 lakh tonnes of onions in the market at once, its shortage will go away. In such a situation, there will be a brake on its rising prices. However, the farmers have become angry with this decision of the government. Onion producing farmers of Maharashtra have warned of agitation. Farmers say that if the government does not withdraw its decision, they will agitate on the streets.

According to government data, onion prices have started increasing from the month of August itself. On August 10, the average price of onion across the country was recorded at Rs 27.90 per kg, which is Rs 2 more than the same period last year.

Increased retail inflation

Let us tell you that with the onset of monsoon, inflation has increased in the country. Even now the price of tomato in the country is beyond Rs 100 per kg. Along with this, the price of all food items is on the high side. This has increased the retail inflation rate in the country. The retail inflation rate was recorded at 7.44 per cent in July, which is the highest in 15 months.