Not considering immediate gold import duty cut, says Nirmala Sitharaman
The govt had raised the import duty on the yellow metal last year to 10 per cent to limit overseas purchases and help trim its bloated current account deficit.
- Sep 10, 2014,
- Updated Sep 10, 2014 2:42 PM IST
The government is not considering an immediate gold import duty cut, Trade Minister Nirmala Sitharaman told reporters on Wednesday.
It had raised the import duty on the yellow metal last year to 10 per cent to limit overseas purchases by the second-biggest bullion consumer and help trim its bloated current account deficit.
However, a dramatic improvement in the deficit had raised market expectations of a duty cut.
(Reuters)
The government is not considering an immediate gold import duty cut, Trade Minister Nirmala Sitharaman told reporters on Wednesday.
It had raised the import duty on the yellow metal last year to 10 per cent to limit overseas purchases by the second-biggest bullion consumer and help trim its bloated current account deficit.
However, a dramatic improvement in the deficit had raised market expectations of a duty cut.
(Reuters)