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gold imports to slide in india this fiscal government

Gold Imports Slip 3.3%, Jewellery Exports Slide 34% In Apr ...

Gold Imports Slip 3.3%, Jewellery Exports Slide 34% During Apr-Feb 2020-21. The decline in gold imports has helped in narrowing the country& 39;s trade deficit to $84.62 billionCustoms duty on gold, silver cut to 7.5%; industries laud ...Currently, gold attracts 12.5% import duty. The government announced cut in customs duty on gold and silver to 7.5% from 12.5%. Indian imports bulk of its gold and silver requirements. Since the ...Switzerland accounts for half of India’s gold imports in FY21 ...Swiss gold accounted for almost half of India’s imports of the yellow metal, at $16.3 billion, in 2020-21. India imported gold worth $34.6 billion last fiscal against $28.2 billion in the previous year despite the raging Covid-19 pandemic.

Budget 2021: Cut customs duty on gold to 4%, withdraw tax at ...

Currently, gold attracts 12.5 per cent import duty and 3 per cent GST and total duty and GST impli ion works out at 15.5 per cent. "Such high taxes have led to large-scale smuggling and tax evasion.Gold: Exports lose steam, deficit widens despite low imports ...India Ratings expects the current account deficit in the October-December quarter at 1.1 per cent of GDP, while Rohini Malkani of Citi has pegged it at 2.3 per cent. The dramatic slide in the rupee to just short of 69 to the dollar in August from around 54 at the beginning of the current fiscal year had forced the government into a desperate fight to contain the current account deficit, which ...The Future of the Indian Rupee Is Tied to Oil Imports ...So, the hit of net oil imports to India’s balance of trade was lower in 2009. This is because Brent crude prices fell in 2009, averaging around $60 per barrel, down from about $92 the previous year.

Current Account Deficit -

India’s Current Position Economic growth of India has slowed to 5 per cent 4.8 % in 2012-13 against 6.2 per cent in the previous fiscal. Government has taken measures, such as to hike gold import duty to 10%,increasing Export, increasing capital flow in the country, 13.India tackles its costly gold addiction Financial TimesLast year, a drop in Indian gold imports of about 20-25 per cent – due perhaps to a previous increase in import duty but also to the slowdown of the domestic economy – was one of the main ...

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