Govt raises gold import duty, hopes for a fall in demand

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ENS Economic Bureau: New Delhi, Jan 21 2013, 22:10 IST

the gold deposit scheme.

Additionally, to encourage individuals to participate in the scheme, banks will be directed to lower the threshold for deposit of gold and reduce the tenure of such deposits to six months from the current three years. Market regulator SEBI and the RBI will issue notifications on gold ETFs and gold deposit schemes in about three weeks.

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Rise in duty for gold import

mahendra jain | 22-Jan-2013Reply | Forward

Rising duty is not the solution instead govt may introduce some gold bond scheme through which people deposit their gold to govt which may come into circulation in jewellery industry even govt is having huge reserves which can be leased to jewellers.