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
April 12,2020

New Delhi, Apr 12: Ramping up efforts to "stamp out" coronavirus cases in the state, Kerala Finance Minister Thomas Isaac has said that not only lockdown but intense testing of people and tracing of their contacts are also equally important in the fight against the outbreak.

Kerala, which was the first state in the country to report a coronavirus infection in late January, has also prepared a time table for coming out of the lockdown and there would be district-specific strategies to tackle the situation while the number of cases are on the decline.

In efforts to curb spreading of coronavirus infections, the country is under a 21-day lockdown till April 14 and many states have sought an extension amid rising number of cases. Kerala has proposed extending the lockdown and gradual phasing out after proper assessment.

"Lockdown should go on till we stamp out entire infections. Now, it is not enough to have lockdown. Equally important is that we should have intense testing, tracing and isolating (of people with coronavirus infections)," he said in a telephonic interview.

The government is closely monitoring the situation and there would be region-specific or district-specific strategies in place to tackle the outbreak, he said.

Against the backdrop of the lockdown that has also disrupted economic activities, Isaac said an exit strategy is being prepared and restrictions are being relaxed in certain segments, including agriculture.

Coronavirus India update: State-wise total number of confirmed cases, deaths on April 12

"The number of patients is coming down (in the state). We hope that in the coming days, the decline will be much more faster," he said during the interview late Friday.

On Saturday, the Kerala government said there were a total of 373 confirmed cases of coronavirus infections and 228 patients were under treatment in various hospitals in the state.

Keeping the trend in the last few days, the number of people under observation has come down to 1,23,490. So far, 14,613 samples from people with symptoms were sent for testing and the results of 12,818 samples have come negative, the government said in a statement on Saturday.

Indicating that there would be a calibrated exit from the lockdown, Isaac said the withdrawal would depend on three main factors, including the count of cases and the percentage of people who are under observation.

While emphasising that people must also be fed during the lockdown period, Isaac also said a time table is being prepared by the state to come out of the lockdown.

Even as strict measures are being implemented to deal with the current situation, the state is also preparing for a possible third wave of coronavirus cases.

Three students, who had returned from the Chinese city of Wuhan, were tested positive. They were also the first such cases, to be reported in January-February period, and have recovered. Wuhan was the epicentre of coronavirus infections before it spread to other countries.

Later, there was a second wave of infections in Kerala.

According to the minister, the possibility of a third wave has also been considered for the exit strategy.

"A lot of Malayalees are expected to come back from outside the state. We will welcome them... before that, we want to stamp out all Covid cases in Kerala. Flatten the curve completely so that when these people from outside, they will be quarantined, they will be tested and only then they will be able to integrate with the rest of the community," he said.

The Kerala government's measures, including extensive testing and efforts to trace people who came in contact with coronavirus-infected persons, have helped in curbing spreading of infections.

The state's public healthcare system has also been appreciated in various quarters.

"People are health conscious. There is a demand for quality healthcare services and the response to this demand has been strengthening of the public healthcare system. We have a robust public healthcare system," the minister emphasised.

On April 9, Isaac tweeted about low level of coronavirus spreading in the state.

"International norm for Covid spread is 2.6 per 1 Covid patient. Total number of primary Covid infected who arrived in Kerala from abroad is 254. The secondary spread has been limited to 91. The international mortality rate is 5.75. With just 2 deaths, rate in Kerala is 0.58," he had tweeted.

Death toll due to the coronavirus increased to 273 and the number of cases to 8,356 in the country on Sunday.

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News Network
June 24,2020

Bengaluru, Jun 24: The Karnataka government on Tuesday announced that fever clinics would be established at all district-level and taluk-level hospitals, wherein fever cases would be screened in a separate area.

"Fever clinics to be established at all district hospitals/district-level hospitals and taluk-level hospitals, wherein all fever cases should be screened 24x7 in a separate area and for Influenza-Like Illness (ILI) and Severe Acute Respiratory Illness (SARI) cases to be subjected for swab testing," read a circular from the Department of Health and Family Welfare dated June 22.

The circular said that private institutions in the corporation areas should also be designated as fever clinics.

"100 per cent of Community Health Centres (CHC), 50 per cent of Primary Health Centres and Urban Primary Health Centres (UPHC) to be converted as exclusive fever clinics to screen ILI/SARI during working hours. The remaining PHC/UPHC to cater to non-COVID-19 cases. All health institutions need to have a separate entry for COVID and non-COVID services," the circular further said.

Karnataka on Tuesday reported 322 fresh COVID-19 positive cases and eight deaths.
According to the state health department, the total number of positive cases has mounted to 9,721 and 150 deaths. So far, 6,004 people have been discharged.

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News Network
January 5,2020

Bengaluru, Jan 5: Lambasting Chief Minister B S Yediyurappa over the proposal to rename Ramanagara as Nava Bengaluru, former chief minister H D Kumaraswamy on Sunday said that such a move will be an insult to Lord Ram, after whom the district is named.

In a series of tweets, Kumaraswamy accused that renaming the district was a pretext to sell its fertile irrigated land to capitalists. Yediyurappa also wants to settle a score with me by renaming it, he alleged

"If Yediyurappa wishes to develop Ramanagara, he should release the funds allocated in the budget. If you want to develop it further, you will find support from me and my people. But, don't set fire to the districts' culture and identity by changing its name," he tweeted.

Comments

Ahmed Ali Kulai
 - 
Monday, 6 Jan 2020

Dear CM

 

please dont follow UP CM-

Being a CM of Karnataka, please concentrate on the welfare of Kannadigas.

 

 

 

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