The government on Monday said the import of sensitive items in the first 8 months of the current financial declined by 0.5 per cent over previous year.
Releasing the data for April-November 2004 period, Union Commerce and Industry Minister Kamal Nath said the total import between the April-November 2004 was Rs 12,462 crore (Rs 124.62 billion) as compared to Rs 12,520 crore (Rs 125.2 billion) during the corresponding period last year thereby showing a negative growth of 0.5 per cent.
The gross import of all commodity during the same period of current year was Rs 2,92,566 crore (Rs 2925.66 billion) as compared to Rs 2,20,924 crore (Rs 2209.24 billion) during the same period of last year, said an official release.
The import of sensitive items constitute only 5.7 per cent and 4.3 per cent of the gross imports during last year and current year respectively. The major item that contributed significantly to the decline in imports is crude palm oil and its fraction, the minister said.
In the edible oil section, the imports have decreased from Rs 8,385 crore (Rs 83.85 billion) last year to Rs 7,415 crore (Rs 74.15 billion) for the corresponding period of this year, the release said.
The downfall in edible oil import is mainly due to huge shortfall in import of crude palm oil, which has gone down by 51 per cent, the release added.
