Govt ups duty on gold to 10 pc, plans import curb

August 14, 2013

Govt_ups_dutyNew Delhi, Aug 14: Acting for the third time since January, the government on Tuesday raised import duty on gold to 10 per cent to stem import of the yellow metal, a key contributor to India's exorbitantly high current account deficit (CAD) and the consequent currency depreciation.

But concerns remained that a 10 per cent duty difference in gold prices in India and outside may lead to increase in smuggling.

Duty on the precious metal was hiked in June, when its import rose to $2.9 billion.

The government expects to garner an additional Rs 4,830 crore through hikes in duties on two other precious metals, platinum and silver.

The move comes after Finance Minister P Chidambaram said on Monday that the government would soon take measures to compress luxury and non-essential imports.

Gold is the biggest luxury import in India which does not contribute to economic growth in a significant way but is shipped into the country to meet the domestic consumption demand.

Soon after the announcement, the rupee recovered to 61.12 to the dollar from 61.66, but analysts said more structural reforms were needed to stem the fall in the India currency, which has lost more than 10 per cent against the dollar this year.

Revenue Secretary Sumit Bose said the government was working on the proposed hike in import duties on non-essential goods, but sources in the ministry say that import duty could be hiked on items such as high-end cars and LCD and LED TV sets.

The government raised the customs duty on gold from 4 per cent to 6 per cent in January, too, and thereafter to 8 per cent in June. Despite that, there was an 87 per cent increase in gold import in the four-month period from April to July. Gold import went up to 383 tonnes in the April-July period this year, as against 205 tonnes in the same period last year.

Bullion traders said that after the latest measure, gold prices could go up by Rs 600 per 10 grams.

Meanwhile, Minister of State for Finance J D Seelam said there have been apprehensions that a duty hike could lead to an increase in smuggling of gold or gold jewellery. In a written reply to a question in the Rajya Sabha, he said customs and other departments have been alerted to keep a vigil against smuggling.

During April-July, a total of 294 kg of gold, valued at Rs 75 crore, have been seized by the Customs Department.

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Ram Puniyani
March 14,2020

In the wake of Citizenship Amendment Act (CAA) UN High Commissioner, Michele Bachelet, has filed an intervention in the Supreme Court petition challenging the constitutionality of the Citizenship Amendment Act, as she is critical of CAA. Responding to her, India’s Foreign Minister S. Jai Shanker strongly rebutted her criticism, saying that the body (UNHCR) has been wrong and is blind to the problem of cross border terrorism. The issue on hand is the possibility of scores of people, mainly Muslims, being declared as stateless. The problem at hand is the massive exercise of going through the responses/documents from over 120 crore of Indian population and screening documents, which as seen in Assam, yield result which are far from truthful or necessary.

The issue of CAA has been extensively debated and despite heavy critique of the same by large number of groups and despite the biggest mass opposition ever to any move in Independent India, the Government is determined on going ahead with an exercise which is reminiscent of the dreaded regimes which are sectarian and heartless to its citizens, which have indulged in extinction of large mass of people on grounds of citizenship, race etc. The Foreign minister’s assertion is that it is a matter internal to India, where India’s sovereignty is all that matters! As far as sovereignty is concerned we should be clear that in current times any sovereign power has to consider the need to uphold the citizenship as per the principle of non-discrimination which is stipulated in Art.26 of the International Covenant on Civil and Political (ICCPR) rights.

Can such policies, which affect large number of people and are likely to affect their citizenship be purely regarded as ‘internal’? With the World turning into a global village, some global norms have been formulated during last few decades. The norms relate to Human rights and migrations have been codified. India is also signatory to many such covenants in including ICCPR, which deals with the norms for dealing with refugees from other countries. One is not talking of Chicago speech of Swami Vivekanand, which said that India’s greatness has been in giving shelter to people from different parts of the World; one is also not talking of the Tattariaya Upanishad’s ‘Atithi Devovhav’ or ‘Vasudhaiva Kutumbkam’ from Mahaupanishad today.

What are being talked about are the values and opinions of organizations which want to ensure to preserve of Human rights of all people Worldwide. In this matter India is calling United Nations body as ‘foreign party’; having no locus standi in the case as it pertains to India’s sovereignty. The truth is that since various countries are signatories to UN covenants, UN bodies have been monitoring the moves of different states and intervening at legal level as Amicus (Friend of the Court) to the courts in different countries and different global bodies. Just to mention some of these, UN and High Commissioner for Human Rights has often submitted amicus briefs in different judicial platforms. Some examples are their intervention in US Supreme Court, European Court of Human Rights, International Criminal Court, and the Inter-American Court of Human Rights. These are meant to help the Courts in areas where UN bodies have expertise.

 Expertise on this has been jointly formulated by various nations. These interventions also remind the nations as to what global norms have been evolved and what are the obligations of individual states to the values which have evolved over a period of time. Arvind Narrain draws our attention to the fact that, “commission has intervened in the European Court of Human Rights in cases involving Spain and Italy to underscore the principle of non-refoulement, which bars compulsory expulsion of illegal migrants… Similarly, the UN has intervened in the International Criminal Court in a case against the Central African Republic to explicate on the international jurisprudence on rape as a war crime.”

From time to time organizations like Amnesty International and Human Rights Watch have been monitoring the status of Human rights of different countries. This puts those countries in uncomfortable situation and is not welcome by those establishments. How should this contradiction between ‘internal matter’, ‘sovereignty’ and the norms for Human rights be resolved? This is a tough question at the time when the freedom indices and democratic ethos are sliding downwards all over the world. In India too has slid down on the scale of these norms.

In India we can look at the intervention of UN body from the angle of equality and non discrimination. Democratic spirit should encourage us to have a rethink on the matters which have been decided by the state. In the face of the greatest mass movement of Shaheen bagh, the state does need to look inwards and give a thought to international morality, the spirit of global family to state the least.

The popular perception is that when Christians were being persecuted in Kandhmal the global Christian community’s voice was not strong enough. Currently in the face of Delhi carnage many a Muslim majority countries have spoken. While Mr. Modi claims that his good relations with Muslim countries are a matter of heartburn to the parties like Congress, he needs to relook at his self gloating. Currently Iran, Malaysia, Indonesia and many Muslim majority countries have spoken against what Modi regime is unleashing in India. Bangladesh, our neighbor, has also seen various protests against the plight of Muslims in India. More than the ‘internal matter’ etc. what needs to be thought out is the moral aspect of the whole issue. We pride ourselves in treading the path of morality. What does that say in present context when while large section of local media is servile to the state, section of global media has strongly brought forward what is happening to minorities in India.   

The hope is that Indian Government wakes up to its International obligations, to the worsening of India’s image in the World due to CAA and the horrific violence witnessed in Delhi.

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News Network
May 29,2020

Thiruvananthapuram, May 29: Chief Minister Pinarayi Vijayan said that fishing in Kerala coast and southeast Arabian Sea has been completely banned from Thursday midnight as the state is expected to receive rainfall early next month.

"India Meteorological Department (IMD) has informed that southwest monsoon will arrive in Kerala coast by the first week of June. The state will receive rainfall in the next five days. Fishing in Kerala coast and the southeast Arabian sea to be completely banned from midnight," Vijayan said.

On Thursday, the IMD announced that conditions are favourable in Kerala for the onset of the southwest monsoon on June 1.

"A low-pressure area is likely to form over the southeast and adjoining east-central Arabian Sea from May 31 to June 4, 2020. In view of this, conditions are very likely to become favourable from June 1, 2020 for the onset of southwest monsoon over Kerala," the IMD said in its bulletin.

It also stated that the southwest monsoon has further advanced into some parts of Maldives-Comorin area, some more parts of south Bay of Bengal, remaining parts of Andaman Sea and Andaman and the Nicobar Islands. 

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News Network
May 20,2020

Mangaluru, May 20: The Third Vande Bharat Mission flight carrying 63 repatriates from Muscat landed at Mangaluru International Airport at 8.35 pm on Wednesday. It was piloted by Mangalurean captain Michael Saldanha.

More than half of the passengers from Muscat alighted in Bengaluru where the flight landed first. Remaining 63 passengers came to Mangaluru. 

After landing, all the passengers were given health kits, food and mobile SIMs, and arrangements were made to change their currency at the airport. 

A health department team screened each passenger, after which emigration formalities were completed. Their throat swab samples will be tested for Covid-19 on Thursday.

Union fertiliser minister D V Sadananda Gowda tweeted on Wednesday that the next Vande Bharat Mission flight is scheduled on Friday from Doha to Mangaluru. The flight will land at Mangaluru at 9.55 pm. 

The third repatriation flight from Dubai to Mangaluru is scheduled on Saturday. It will first land at Bengaluru and later fly to Mangaluru. However, there are no flights from Bahrain, Saudi Arabia and Kuwait to Mangaluru.

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