Union Budget 2015-16: Govt to launch gold accounts, import duty unchanged
In moving towards recycling of gold held in households and temple trusts for years, Finance Minister Arun Jaitley signalled the government's intent to cut shipments into the world's top consumer of the metal. Massive gold imports often skew India's trade balance.
and Krishna N. Das
Last Updated: February 28, 2015 | 16:40 IST
India buys 800-1,000 tonnes of gold a year, but the decision to keep the import duty intact may raise prices that were edging down on expectations of a cut. Smuggling could rise, too.