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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News Network
May 27,2020

Kasaragod, May 27: In a tragic incident, two persons, who were brothers, died of asphyxiation while trying to rescue a calf that fell in their well at Bandhiyod near here on Wednesday.

Police sources said the elder brother Narayanan (50) entered into the well first to save the calf that fell in the well early in the morning.

His brother Sankaran (40) also followed suit after he noticed his brother fainting deep down the well. However, he also fainted inside the well.

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News Network
June 2,2020

Bengaluru, Jun 2: Karnataka Chief Minister B S Yediyurappa on Monday claimed 70 per cent of the people of the country want Narendra Modi to not only complete the current term, but also want him as the Prime Minister for the next term.

He also called PM Modi "iron leader" for scrapping Article 370 that terminated special status to Jammu and Kashmir.

"70 per cent of the people of this nation want Narendra Modiji not only to complete this term, but also want him as the Prime Minister for the next term, so that he can find solution to the problems faced by this country. This is the aspiration of the young India," he said.

Mr Yediyurappa said PM Modi has successfully completed one year of the second term and the country is surging ahead in the path of progress under his "exceptional and far-sighted leadership."

"The Prime Minister is leading the country forward towards development with his Sab Ka Saath, Sab Ka Vikas, Sab Ka Vishwas principle and inclusive schemes," he said, adding that PM Modi is spearheading the cause of building a "strong and self-reliant Bharath."

Speaking to reporters in the backdrop of the one year of the Modi government''s second term in office, the chief minister said Modi is recognised as an exceptional leader not only in India, but also at the global level, through his mantra - Vasudaiva Kutumbakam.

Mr Yediyurappa termed the PM "iron leader" for scrapping Article 370 that terminated special status to Jammu and Kashmir, and formation of Jammu- Kashmir and Ladakh as Union Territories.

He listed the key decisions of the BJP-led central government such as banning the practice of triple talaq among Muslims, the Vande Bharath Mission, the Citizenship Amendment Act, one country-one ration card scheme, new Motor Vehicle Act, besides also "finding solution to Ram Mandir issue" , among others.

Mr Yediyurappa said PM Modi's decision has played a decisive role in dealing with the COVID-19 situation in India. He has competently handled a huge challenge of combating the coronavirus in a country with a population of 130 crore.

"He implemented the most stringent lockdown restrictions in the world to control the spread of COVID-19 and achieved remarkable success," he said, and lauded the Rs 20 lakh crore package that has been announced to revive the economy amid the pandemic.

"Modiji also supported the State during the devastating floods last year.....the state government is determined to develop Karnataka deriving inspiration from our Prime Minister''s efficiency."

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July 2,2020

Yadgir, July 2: A fresh video of the health staff dragging the body of a Covid-19 victim and dumping it into a pit disgracefully has gone viral on social media.

The incident occurred in Yadgir district of Karnataka on Tuesday, just days after shocking visuals of bodies of Covid-19 victims being handled disrespectfully in Ballari district went viral.

In the fresh video, two persons with PPE suits can be seen dragging, hurling and dumping the dead body of a senior citizen who died of covid-19. The duo dragged the body using a wooden log inserted to both hands of a plastic body bag for nearly 300 meters.

After pulling till the pit, the body was heartlessly dumped including a wooden log. Several villagers were also seen in the video.

The victim was settled in Siravara in Raichur district, although he originally hailed from Yadgir. On Sunday he was busy overseeing his daughter' wedding that was first postponed due to lockdown.

According to a relative of the deceased, on Monday he complained of breathing problems following which an ambulance was called to carry him to Raichur Institute of Medical Sciences (RIMS).

Raichur Deputy Commissioner (DC), R Venkatesh said he was brought dead to the hospital as he succumbed en-route. The family members were quarantined and the body was packed as per the protocols and sent to Yadgir as his family members informed that the victim is from the neighbouring district. "In Yadgir district he was swabbed and his test results came positive," DC informed.

As soon as residents of Honagera village learned about the arrival of the body, the family members were harassed asking them to not to bury the body in any of the fields in the village.

Sridevi, a relative of the deceased said "the locals assembled near our house and threatened consequences if the body was brought here. Fearing backlash, we asked the district authorities to perform the last rites in the farmland owned by the victim. But it is now saddening to see the video where the body was inhumanely dragged and dumped."

Meanwhile Karnataka Chief Minister BS Yeddyurappa on Wednesday (July 1, 2020) said that six staff members have been suspended in connection with the inhumane funeral of a man who died of COVID-19 in Balari district.

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