Government hikes import tax on gold by 50 per cent

The government on Monday hiked import duty on gold to 6 per cent from 4 per cent effective immediately, a finance ministry official said on Monday, in a bid to cut down ballooning current account deficit.

The news sent gold futures higher by a percent.

The duties will be reviewed if there is a moderation in gold imports, Economic Affairs Secretary Arvind Mayaram told reporters.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Digging up carcasses from excavation sites is not going to take this nation forward

    The Bharat Ratna, bestowed by the world’s largest democracy as its highest civilian honour, “in recognition of exceptional service/performance of

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

<b>Riskfactor</b>: THE EMPATHY GAP

The empathy gap (also known as the hot-cold empathy gap) ...

Zehra Naqvi

A thrilling journey

Amrita Chowdhury could well be India’s Jeffery Archer. Edge-of-the-seat thriller ...

Bubbles Sabharwal

Time to gift ourselves some good cheer

The other day, my labrador Cesar asked me, “You do ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture