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
March 24,2020

Bengaluru, Mar 24: Karnataka Chief Minister B S Yediyurappa, who had earlier announced that Indira canteen will supply free meals to the poor and BPL card holders, on Tuesday announced that Indira Canteens will be remain closed as there is fear of spread of the coronavirus as people assemble in large number.

On Monday, he had announced that Indira Canteens would provide food free of cost for the benefit of daily wage workers and poor people in the wake of a complete lockdown.

Asked about the alternative the government would provide, he said, "Closure of canteens is needed to avoid the rush near the canteen as it may lead to problems.

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Agencies
February 25,2020

New Delhi, Nov 25: According to multiple media reports, at least 11 people were killed and around 150 injured in the large scale violence unleashed by the Sangh Parivar activists to suppress anti-CAA agitation in the capital of India.

Violence was reported from Jaffrabad, Chandbagh, Maujpur, Bhajanpura, Gokulpuri, Khajuri Khas, Kardampuri, Dayalpur and Hauz Rani and prohibitory orders were clamped in several areas of North East Delhi. 

The MHA said the situation was under control and paramilitary forces have been deployed in large numbers in trouble spots. The Gokulpuri tire market was set on fire. The violence has also led to the destruction of several crores worth of property. 

As tension smouldered in the national capital's northeast and the sun set over another restive day, violence cut a swathe through several localities, including Chand Bagh and Bhajanpura, with stones and other missiles hurled and shops set ablaze.

Rioters damaged two fire tenders in Gokulpuri and crowds raising incendiary slogans set on fire fruit carts, rickshaws and anything that came in their way in the epicentre of the trouble Maujpur and other places.

With US President Donald Trump also in the city, Delhi Police ramped up security. It fired teargas shells to disperse the rioters -- armed with stones, rods and even swords and many wearing helmets to protect themselves -- and was assisted by paramilitary personnel.

Streets were littered with mangled remains of vehicles, bricks and burnt tyres, mute testimony to the violence and bloodshed that took on a communal taint on Monday and injured about 180 people, including 48 police personnel.

According to GTB Hospital Medical Superintendent Sunil Kumar, six people were declared brought dead on Tuesday, taking the death toll in 11. At least 35 injured people were also taken to the hospital today.

"Fifty per cent of those injured have sustained bullet injuries," Kumar added.

As the violence continued unabated, police officials said the situation was under control and flag marches were conducted in Bhajanpura, Khajuri Khas and other places.

Union Home Minister Amit Shah convened a meeting with Delhi Lieutenant Governor Anil Baijal, Chief Minister Arvind Kejriwal, Delhi Police chief Amulya Patnaik and others to address the situation.

The meeting resolved that workers of political parties should join hands to restore peace and peace committees should be reactivated in all localities.

In scenes not seen in the national capital for decades, frenzied groups thrashed people on the road and vandalised vehicles.

The media also came under attack.

Akshay, a journalist with JK 24X7 News, received a bullet injury and was in a serious condition in hospital, and two reporters from NDTV were beaten and punched by rioters. Many other journalists were heckled and told to go back.

Schools were shut and fearful residents stayed indoors as restless crowds roamed the streets, seemingly unmindful of prohibitory orders restricting the assembly of more than four people imposed on Monday.

"There is hardly any police presence in the area. Rioters are running around threatening people, vandalising shops. Families need to be evacuated. We are unsafe in our own homes," said a resident of Maujpur, requesting anonymity.

Another added that this is the first time in 35 years -- possibly since the 1984 anti-Sikh riots -- that he has seen a situation such as this. "The area had always remained peaceful," he told PTI.

Trouble continued through the day.

Around 5 pm in Chand Bagh, for instance, security personnel were pelted with stones. They chased the mob, only to be attacked afresh with some people also armed with petrol bombs.

A few residents in Yamuna Vihar and Jaffrabad told PTI they had seen rioters with swords in their hands.

The 11 killed include Delhi Police head constable Ratan Lal. While Lal died of gunshot wounds, it is still not yet clear what killed the others or who they all were.

Among those killed was Vinod Kumar, a resident of Ghonda who was brought dead to the hospital and whose body is at the morgue of the Jag Parvesh Hospital.

Also killed was Mohammad Furkan from Kardampuri, near Jafrabad, who got married in 2014 and has two children. His brother, Mohammed Imran, overcome with grief, said they were both in the handicrafts business.

"He had gone to get some food for his children. Someone told me he had been shot. I couldn't believe it as I had met him barely an hour earlier. I kept calling him... I then rushed to GTB Hospital where I was told that he is dead," he told reporters, sobbing inconsolably outside the hospital.

Imran blamed BJP leader Kapil Mishra's tweet, giving Delhi Police an ultimatum to clear the streets of protesters and saying people would be quiet only until Trump is in India.

"Before that everything was peaceful," he said.

One person seen brandishing a gun before police on Monday was identified as Shah Rukh and been arrested yet. Police said 11 FIRs have been filed.

Kejriwal, who held a meeting with senior officials and MLAs of all parties to discuss the situation, asked people to refrain from violence and said all issues can be dealt with through dialogue.

"Stop this madness," he said after visiting the injured in GTB Hospital.

"I have met the people who were injured, also met some people who sustained bullet injuries. The biggest concern is to stop the violence. I appeal to everyone to stop the violence," he said.

Five stations on the Delhi Metro's Pink Line were closed for the second consecutive day on Tuesday in the wake of the trouble.

Deputy Commissioner of Police (Shahdara) Amit Sharma underwent an operation on Monday night for the head injury sustained during the clashes.

Comments

Angry Indian
 - 
Wednesday, 26 Feb 2020

pakistan is very very happy to see this because we indian MARONS fighting each other as a HINDu & MUSLIM destroying our country with our own hand..

great india..jai hind

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News Network
May 8,2020

Bhatkal, May 8: In a shocking development 12 new coronavius positive cases were detected in Bhatkal town of Uttara Kannada district in a single day. 

Around 20 days ago an 18-year-old girl in Bhatkal was tested positive for the covid-19. The source of this infection was the First Neuro hospital located at Padil in Mangaluru where a covid-19 patient from Bantwal had undergone treatment. 

Now, the Bhatkal girl’s family members and neighbours also have tested positive for the deadly virus. Madeena Colony, Usmainya Colony, Nawayath Colony, Tengungundi Cross, Hindu Colony, Kukti Nagar, Jali Cross and Azad Nagar are sealed down by officials after the confirmation of new cases. 

Those infected include a 5-month-old baby, elderly people aged 60, 75, 83 and children aged 3, 11 and 12 years. 

Meanwhile, Kumata-Honnavar MLA Dinakar K Shetty has written to Uttara Kannada DC urging the complete seal down of Bhatkal taluk.

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