Duty cuts to curb high inflation: FM

Finance Minister P Chidambaram today said customs duty cut on a number of items has been advanced, including edible oils, to curb high inflation.

"We would have anyway done it on February 28. We advanced it in view of inflation," Chidambaram said here at the sidelines of a meeting to review the performance of regional rural banks.

The government had cut customs duty on edible oils yesterday by up to 12.5% and froze the tariff values at the July-2006 levels.