Akhilesh writes to PM, Pranab over bullion traders' agitation

Uttar Pradesh chief minister Akhilesh Yadav on Monday raised the issue of bullion traders’ ongoing agitation over the proposed hike in tax rates with Prime Minister Manmohan Singh and Union finance minister Pranab Mukherjee.

Yadav has written to them urging an early resolution to the traders’ grievances.

In the 2012-13 Union Budget, the Centre has proposed increasing excise and customs duty on bullion.

Yesterday, a delegation of bullion traders had met Yadav in Lucknow and submitted a memorandum. They lamented that the abolition of Gold Control Act in 1990 had freed them from the excise department tentacles, but the budgetary proposals would again bring them in its net.

The traders maintained not only their harassment would increase, there would be no parity between the national and international gold prices.

The traders had also met former UP chief minister and senior BJP leader Rajnath Singh, who observed the proposals would bring about ‘inspector raj’ and promote smuggling.