India Slashes Edible-Oil Duties to Reduce Festival Food Costs

India has made a significant move to lower the cost of essential food items ahead of the festival season by cutting import taxes on crude palm and soybean oils by half. This decision aims to stabilize prices and make food more affordable during a time when demand typically surges. As the world's largest importer of edible oils, this policy shift could have far-reaching implications for both domestic inflation and global oil markets. The move underscores the government's commitment to managing inflation and ensuring economic stability during critical periods.