The government has gone after gold this Budget, looking to restrict its weightage to the current account deficit. It has done so by hiking the customs duty on imported gold to 4% from 2%, and hiked excise duty on refined gold to 3% from the previous 1.5%.
The big question this brought forward was will this increase in price impact the demand for gold in India. According to T Gnanasekar, director of CommTrendz Research & Fund Management, the market seems undeterred by the hike.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
