Govt may hike import duty on gold in Budget

According to Finance Ministry, in the past two months gold imports have risen

A hike in the import duty on gold to curb its imports and tax sops to encourage people to replace idle gold with financial instruments may be in the offing.

The Finance Ministry is said to be considering these moves which may find a mention in the Budget.

"In the last two months gold imports have risen. It is a cause of concern. Steps are needed...something will be announced in Budget...