Not considering immediate gold import duty cut, says Nirmala Sitharaman

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)