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Gold becomes more expensive as Govt proposes to increase import duties to 12.5%

One of the largest gold importers in the world, the Indian gold and jewelery sector, accounts for 75 of the country's GDP. The sector employs 4.6 million people and is constantly growing.

Gold becomes more expensive as Govt proposes to increase import duties to 12.5%
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Gold will become more expensive as the trade union government today increased import duties in the girls' budget presented by Finance Minister Nirmala Sitharaman.

According to the budget proposals, the import duty on gold and precious metals rose to 12.5% ​​from the current level of 10%.

One of the largest gold importers in the world, the Indian gold and jewelery sector, accounts for 75 of the country's GDP. The sector employs 4.6 million people and is constantly growing.

In the 2018 budget, the Minister of Finance announced that a comprehensive gold policy would be developed to develop gold as an investment category. The government will also set up a system for a consumer-friendly and trade-efficient system of regulated gold exchanges in the country. Gold Monetization Scheme will be updated to allow people to open a hassle-free Gold Deposit Account.

The extensive gold policy intended to create regulated gold exchanges. It is planning to set up an efficient system of regulated gold exchanges. The move was seen as positive for the Indian market.

. (tagsToTranslate) budget (t) Gold (t) Nirmala Sitharaman (t) precious metals (t) with the budget 2019 (t) trade union budget 2019