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No proposal to cut import duty on gold: Govt

Gems and jewellery exporters have demanded cut in the import duty to boost exports

Press Trust of India  |  New Delhi 

Photo: Reuters
Photo: Reuters

The on Friday said there is no proposal under consideration to reduce import duty on gold.

"There is no such proposal under consideration at present," Minister of State for Finance said in a written reply to the Lok Sabha.

and exporters have demanded cut in the import duty to boost exports.

In a separate reply, the minister said, representations were received from the Confederation of Indian Textile Industry (CITI) and from the Federation of Art Silk Weaving Industry to increase customs duty on import of fabrics, in general, from 10% to 20%.

"The same was examined and it was decided not to make any changes in customs duty on fabrics," he said.

Replying to a separate question on the devaluation of the rupee to boost exports, Minister of State for Finance Arjun Ram Meghwal said that the exchange rate of the rupee by and large market is determined and the and the RBI are closely monitoring the emerging external situation.

During April-October 2016-17, he said, exports declined marginally by 0.2% and the exchange rate of the rupee against the US dollar depreciated by 3.8%.

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No proposal to cut import duty on gold: Govt

Gems and jewellery exporters have demanded cut in the import duty to boost exports

Gems and jewellery exporters have demanded cut in the import duty to boost exports
The on Friday said there is no proposal under consideration to reduce import duty on gold.

"There is no such proposal under consideration at present," Minister of State for Finance said in a written reply to the Lok Sabha.

and exporters have demanded cut in the import duty to boost exports.

In a separate reply, the minister said, representations were received from the Confederation of Indian Textile Industry (CITI) and from the Federation of Art Silk Weaving Industry to increase customs duty on import of fabrics, in general, from 10% to 20%.

"The same was examined and it was decided not to make any changes in customs duty on fabrics," he said.

Replying to a separate question on the devaluation of the rupee to boost exports, Minister of State for Finance Arjun Ram Meghwal said that the exchange rate of the rupee by and large market is determined and the and the RBI are closely monitoring the emerging external situation.

During April-October 2016-17, he said, exports declined marginally by 0.2% and the exchange rate of the rupee against the US dollar depreciated by 3.8%.
image
Business Standard
177 22

No proposal to cut import duty on gold: Govt

Gems and jewellery exporters have demanded cut in the import duty to boost exports

The on Friday said there is no proposal under consideration to reduce import duty on gold.

"There is no such proposal under consideration at present," Minister of State for Finance said in a written reply to the Lok Sabha.

and exporters have demanded cut in the import duty to boost exports.

In a separate reply, the minister said, representations were received from the Confederation of Indian Textile Industry (CITI) and from the Federation of Art Silk Weaving Industry to increase customs duty on import of fabrics, in general, from 10% to 20%.

"The same was examined and it was decided not to make any changes in customs duty on fabrics," he said.

Replying to a separate question on the devaluation of the rupee to boost exports, Minister of State for Finance Arjun Ram Meghwal said that the exchange rate of the rupee by and large market is determined and the and the RBI are closely monitoring the emerging external situation.

During April-October 2016-17, he said, exports declined marginally by 0.2% and the exchange rate of the rupee against the US dollar depreciated by 3.8%.

image
Business Standard
177 22

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