Explanation:

Justification: Statement 1: India imports about 14-15 million tonnes of edible oil annually to meet domestic demand. At present, the import duty on crude soybean oil is 3.0 per cent, crude sunflower oil 25 per cent and crude rapeseed oil 25 per cent.
According to ICRA, India occupies a prominent position in the world oilseeds industry with contribution of around 10% in worldwide production. But the demand of edible oils (extracted from oilseeds in addition to palm oil) is significantly higher than the domestic production, leading to dependence on imports (60% of requirement).In FY2016 India’s total edible oil demand stood at 24 mn tonnes out of which 9 mn tonnes was met from domestic production and 15 mn tonnes met from imports.
Statement 2: Import duty on crude edible vegetable oils like groundnut oil, olive oil, cotton seed oil, safflower seed oil, saffola oil, coconut oil, palm kernel/babassu oil, linseed oil, maize corn oil, castor oil, sesame oil, other fixed vegetable fats and oils has been raised from 12.5 per cent to 30 per cent.
Similarly, import duty on these refined edible vegetable oils has been raised from 20 per cent to 35 per cent, according to the Budget 2018 document.