India has no plans now to reduce import duty on gold - junior minister

NEW DELHI (Reuters) - India has no plans at present to reduce tax on gold imports, a junior finance minister said on Friday.

India has put in place measures to dissuade gold buying to tackle a widening trade deficit, including a record 10 percent import tax and a requirement that a fifth of all imports of the metal be shipped out.

"At present, there is no proposal under consideration to reduce the import duty on gold, taking into account the likely impact on the current account deficit," J.D. Seelam told lawmakers in a written reply.

Last month, the finance minister and the revenue secretary said that the government could review restrictions on gold imports by the end of March, when the current fiscal year concludes.

(Reporting by Manoj Kumar; editing by Malini Menon)