There is a chance that the shining of the gems and jewellery industries could be come back. Govt. has shown some interest in roll back of the excise duty of the gems and jewellery announced in the annual budget. Finance Minister Pranab Mukherjee and UPA chairperson Sonia Gandhi will meet today for the discussion of the issue. Meanwhile Congress has asked the govt. to think the mater sympathetically.
It is noted that in the budget, govt. had hiked the import duty on gold bars, coins and platinum from two to 4% and levied 1% excise duty on unbranded jewellery. In the protest of the move, jewellers in various parts of the country have been on a strike since March 17 to protest the hike in import duty on gold and imposition of excise duty on unbranded jewellery.
It is noted that a delegation of jewellers is expected to meet with Congress president Sonia Gandhi regarding its demands. Apart from this a representative of jewellery manufacturers from the major cities of India is also expected to meets FM Pranab Mukherjee today. However govt. activeness regarding the matter has left a hope that govt. can re consider on the rollback of the increased excise duties.
Congress has demanded govt. to think sympathetically on the demands of the jewellers.
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