Imports are down also because local traders are clearing unaccounted stock after introduction of 1 per cent excise duty
The enforcement agencies during the first nine months of 2013-14 have seized 1,074.41 kg of gold
In July alone, 2.5 tonnes of gold coins were imported so far from South Korea under zero-duty facility
Oil and gold had accounted for 45 per cent of India's imports bill in 2012-13.
While the Trump administration wants India to lower the trade barriers and embrace "fair and reciprocal" trade, India has raised tariffs on 28 items exported from the US in retaliation to America's withdrawal of preferential access for Indian products.
The government took steps to curb imports of gold after concerns about the country's current account deficit.
The government on Wednesday slashed customs duties on petrol and diesel by 5.0 per cent while cutting excise duties by 3.0 per cent, as part of efforts to check inflation that crossed 7.6 per cent.
With 15% customs duty hike on locally assembled vehicles, it is cheaper to import from Thailand, says India MD
The proposed bullion bank can help settle gold loan accounts in gold terms, and promote existing gold schemes, along with launching schemes including gold-recurring deposits.
DRI seized contraband worth Rs 504.39 crore.
Trade tensions between India and the US have been rising with President Donald Trump complaining that tariffs imposed by New Delhi on American products were "no longer acceptable".
Petrol will cost Rs 17.46 per litre and diesel Rs 18.07 in Delhi if all duties and taxes on the two fuels are removed, Petroleum Minister Mani Shankar Aiyar said on Tuesday.
A large percentage of total tourism business activity of India, which is estimated at $28 billion+ in forex and upwards of Rs 2 lakh crore in domestic tourism activity will be at economic risk through the year.
The 2-3 per cent reduction on the ex-showroom prices would be effective from Sunday, a company release said.
10 per cent for those who earn up to Rs 30 lakh a year and 25 per cent for those who earn more, suggests T C A Srinivasa-Raghavan.
Tax incentives to have cascading effect on the capital goods industry.
The government on Friday slashed the import tariff value on gold and silver to $405 per ten gram and $642 per kg, respectively, in line with global trends.
Softening the demonetisation blow, the Budget for 2017-18 on Wednesday halved the tax to 5 per cent on incomes up to Rs 500,000 but proposed a new surcharge of 10 per cent on incomes between Rs 50 lakh and Rs 1 crore and raised duties on cigarettes and pan masala while stepping up allocations for infrastructure, rural, agriculture and social sectors.
Oil and gas exploration policy will be reviewed to move from profit sharing to revenue sharing contracts.
The government on Thursday slashed the import tariff value on gold for the second straight day to $ 414 per 10 grams and silver to $672 per kg, in line with weak global prices of the precious metals.
This will also give an impetus to the National Manufacturing Policy.
With certain quarters demanding privatisation of public sector banks in the aftermath of the alleged fraud at Punjab National Bank (PNB), Economic Advisory Council to the Prime Minister chairman Bibek Debroy tells Sanjeeb Mukherjee, Ishan Bakshi and Indivjal Dhasmana that reducing government equity even to zero would not mean giving up of government control over these banks.
However, the tariff value for silver has been lowered to $920 per kg, according to a notification released by the Central Board of Excise and Customs on Tuesday.
All households are entitled to get 12 cylinders of LPG or liquefied petroleum gas.
The 2013-14 Budget continues to focus on growth in predominantly primary sectors like agriculture, infrastructure and education. This growth will in turn support the growth in other sectors including the automobile industry.
The 2013-14 Budget continues to focus on growth in predominantly primary sectors like agriculture, infrastructure and education. This growth will in turn support the growth in other sectors including the automobile industry.
Union Budget 2013-14 was positive for the Aluminium products sector.
5 MMTPA LNG terminal in Dabhol will be fully operational in 2013-14
'We expect the new government to look into the issue of penalties imposed on technology firms involved in UID related projects.'
Trump congratulated Modi on his election victory and said that the two countries would work together in many areas including military.
Move after spurt in shipments from the south-east Asian country Thai govt response awaited.
On its part, the Reserve Bank of India tried to help exporters by easing some restrictions imposed on holders of Exchange Earners Foreign Currency accounts and by giving effect to the commerce minister's announcements regarding extension of the interest subvention scheme for one more year and for more items.
Tariff value is the base price on which the customs duty is determined to prevent under -- invoicing.
Tariff value is the base price on which the customs duty is determined to prevent under -invoicing.
The impact of the Union Budget 2012-13 on the Media & Entertainment sector is neutral. The Budget did not address the issues of digitization, as the country shift from analog cable TV to digital. The budget has nothing to say for the Industry in general.
Economy to grow by 7.2-7.5 per cent in second half of current fiscal, says FM.
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