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
July 25,2020

Hubballi,  Jul 25: South Western Railway (SWR) inducted seven lady sub-inspectors (SI) in the Railway Protection Force (RPF), in a first, on Friday. Three more women SI undergoing training in Lucknow are expected to join SWR soon.

According to the Chief Public Relations Officer (CPRO) of SWR, the inducted sub-inspectors are part of 164 women SI cadets who passed out of the RPF training centre in Moula Ali, Hyderabad, after a rigorous training of nine months. They will take care of the security of railway passengers, Railway property, and Railway premises, after resuming their duties.

They will also be responsible for giving special care to the vulnerable sections of society, women, and children while discharging their duties, the CPRO said.

The CPRO also informed that the newly admitted female SIs will be posted to major stations on SWR for regular duties on completion of their two months of practical training over the Zone. Further 120 ladies are undergoing constables training for various training centres across India.

This move is considered a step forward into women empowerment in Railways.

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News Network
January 9,2020

Bengaluru, Jan 9: Some BJP workers created a ruckus on Wednesday at a college here while seeking support for the amended Citizenship Act by raising slogans like 'Go back to Pakistan' outside the campus on Wednesday, as girl students opposed a pro-CAA banner on the wall of their institution.

A video of the incident went viral on social media.

A group of BJP workers, supporters of local party leader M M Govindaraj, had put up a poster "India Supports CAA" on the wall of Jyothi Nivas College near Koramangala.

This was opposed by girl students, who said they would not allow any such poster to be put up on the college property.

The BJP workers then tried to shout down the students.

"You are not concerned about citizenship, you are concerned about yourself. You should be concerned about India first. You are not an Indian then," a BJP worker is heard screaming at the girls in the video.

They also questioned the students if they had valid reasons to oppose the Citizenship Amendment Act and sought to know whether they wanted an argument or a debate.

The BJP workers purportedly told the girls that they were only the students of the college and not the owner.

"What's your problem madam with the CAA? Are you the owner of the college?" they asked.

Amid the heated argument, the BJP workers resorted to sloganeering like 'We want CAA' and "Go back to Pakistan', as seen in another video shot by the students.

BTM Layout Congress MLA Ramalinga Reddy visited the college on Thursday after learning about the incident and spoke to its management.

Later, he told reporters that the campus should not be allowed for any political activities.

"Any signature campaign whether in favor or against it (CAA) should be done outside the campus," Reddy said.

He cautioned the pro-CAA protesters he will not let any violent incidents like the one at Jawaharlal Nehru University in New Delhi happen at the city college.

Reddy's daughter Sowmya Reddy, who is the Jayanagar MLA, tweeted, "A few videos & photos of outside #JyotiNivascollege are being circulated on social media."

"MLA Ramalinga Reddy & I have spoken to cops and the Prinicipal about this incident. Spoke to DCP South East Bengaluru and she said that Koramangala cops went there immediately & they are picketing even now," she added.

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News Network
August 9,2020

Bengaluru, Aug 9: A youth was killed and three others injured as a pillar of an old temple on the outskirts of Bengaluru fell on them as they and five others dug under it in search of treasure, police said on Saturday.

"One treasure hunter got crushed under a pillar, three suffered injuries and have been hospitalised while five are on the run," a police official said.

The incident occurred at a centuries-old Anjaneya temple in Hindiganala village near Hoskote, around 50 km away from the city, on Thursday night.

Suresh, 23, got crushed to death while Manjunath, 23, Srinivas, 22, and Sebastian Raja Rathna, 22, were injured.

Following the unexpected accident, the injured treasure hunters called a 108 ambulance, leading to the entire incident coming to light.

The ambulance staff helped the youth stuck under the temple pillars and took them to hospital.

Police have registered a case under various sections of the Ancient Monuments Act, the Karnataka Treasure Trove Act, and the Indian Penal Code.

According to the official, local youth the village as well as a nearby village were involved in the hunt.

Police are on the lookout for the five treasure hunters on the run.

However, the police official said that it was an old ruined temple and there was nothing there.

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