Separate body for gold is a welcome suggestion: Hasmukh Adhia

CNBC-TV18’s Latha Venkatesh caught up with Revenue & Finance Secretary, Hasmukh Adhia at the Gold & Jewellery Summit India 2017 and asked him whether an increase in customs duty would lead to increase in cash transactions and hence loss of goods and services tax (GST).

Gold is important not only for making jewellery, it is also important for storing in form of biscuits, he said.

Have never tried to restrict the import of gold because current account deficit (CAD) is not a big problem for us now, he added.

The demand for creating a separate policy body which takes all the important decisions about gold is a welcome suggestion and it must be for the Commerce ministry to initiate the discussion on that, said Adhia.