New Delhi: India yesterday hiked the import duty on gold jewellery to 15 percent in a bid to protect domestic industry and curb the precious metal’s imports, a key reason for the country’s high trade and current account deficits. “Import duty on gold imports is increased to 15 percent from the earlier rate of 10 percent,” the finance ministry said. The concerned department had issued the notification and the new rate became application with immediate effect.
“As part of measures to contain the current account deficit, the customs duty on gold has been revised upwards periodically in the past two years,” the finance ministry said. The last revision was done on August 13, when the duty was hiked to 10 percent from eight percent. Prior to January 17, 2012, the import duty on standard gold (of 99.5 percent purity and above) was Rs300 per 10 grams.
The duty was raised to two percent from January 17, 2012. Thereafter, it was raised to four percent in the Budget 2012-13. The duty was further raised to six percent from Jan uary 21, 2013 and and to eight percent from June 5, 2013.
Kerala CM to take
up Madany issue
Thiruvananthapuram: Kerala Chief Minister Oommen Chandy will speak to his Karnataka counterpart Siddaramaiah on September 21 about Muslim leader Abdul Nasser Madany, lodged in a Bangalore jail. Following this decision, Peoples Democratic Party (the party founded by Maudny) has decided to call off its planned September 25 hunger strike before the state secretariat here, said its leader Poonthura Siraj. Madany is in custody since August 2010 for his alleged involvement in the 2008 Bangalore bomb blasts. Two people died while 20 were injured in the blasts.
CBI probe sought
in student’s death
New Delhi: The family of a 21-year-old NRI student who died after being attacked in an apartment block here yesterday demanded a CBI inquiry into his alleged murder. Anil Sarna, father of the non-resident Indian student Anmol Sarna, made the demand after meeting Delhi Police Commissioner Bhim Sain Bassi, saying he was not happy with the police investigation. Anil Sarna said he did not believe the police claim his son died of self-inflicted injuries and thrashing by two guards of Kalkaji’s South Park Apartments on September 13-14. IANS