India needs to rationalise gold import duty: Trade secretary

India needs to "rationalise" duty on gold imports, which plunged 72 percent in May, Trade Secretary Rajeev Kher told reporters on Wednesday.

Following a steep rise in the country's current account deficit, India raised the gold import tax last year to 10 percent from 4 percent.

Separately, Kher said his ministry was not considering raising import duty on sugar, as the matter had not been brought to his notice.

Last week Food Minister Ram Vilas Paswan said India will examine raising import tax on sugar to support local prices and help mills clear dues to cane growers.

EDITORIAL OF THE DAY

  • Modi government needs a 5-year perspective plan for securing India’s computer networks

    Going wholly digital has its own consequences. For one, India will become increasingly vulnerable to deadly cyber attacks, which are a reality today.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Freedom Files : THE LAST SHEPHERD

The deep sense of foreboding was still to set in, ...

Urs Schoettli

Dragon Days are here

This is a very crucial year for the People’s Republic ...

Rajgopal Nidamboor

Your attitude can transform your life

Our attitude reflects our feelings, beliefs, or frame of mind, ...