Centre asked to reduce import duty on gold
The Dollar Business Bureau If the sources have to be believed upon, the Indian Trade Ministry had sought a sharp cut on import duties on gold. To this regard, the Indian Ministry was quoted to have asked the Financial Minister to consider on reducing the import duty on gold from 10% to 2%, say the sources. The All India Gems and Jewellery Trade Federation, in its recommendations to the Union Budget 2015-16, had also asked the government to reduce the import duty on gold from 10% to around 2%, considering the expected decline of crude oil prices in 2015. Speaking on the current account deficit, the Minister was also quoted to have said that the account deficit is fairly under ...
