The consent is akin to a blanket nod for the agency to probe scheduled offences specified in the Delhi Special Police Establishment Act (DPSE) Act, 1946.
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Gold prices have eased off in recent months after the formation of a new government bringing in positive sentiment back to the stock market.
Prime Minister Narendra Modi on Tuesday targeted Kerala's ruling Left Democratic Front over the gold smuggling scam, saying the Communist Party of India-Marxist-led government "betrayed" the people of the state just as Judas did to Lord Jesus for a few pieces of silver.
With import duty on gold raised to 8 per cent, smugglers are back at work.
One of the lawyers representing the two Youth Congress workers confirmed that the court of judicial first class magistrate in Thiruvananthapuram directed the Valiyathura police to register an FIR.
Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled the Modi 3.0 government's first budget after the general elections.
The government is doubling down on existing 'temporary' restrictions on the import of gold. Some were introduced under the last administration, and had a transitory effect, reducing gold imports through the official channel.
The Kerala police chief said the state police would also consider collaborating with the Union government in the research sector to address the security threats posed by drones.
In an interview to Business Standard, Rangarajan says CAD will be brought under control at around two per cent of the gross domestic product.
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The Ayush ministry has been roped in by the BSF for the project. The ministry has provided the border-guarding force with the beehives and required expertise to fix those on the alloy-made "smart fence".
The episode came to light in July when certain human rights bodies alleged that UN peacekeepers stationed in Congo's North Kivu province near the Rwandan border were indulging in trafficking of gold.
You do get your money's worth simply watching these girls do what they are best at: Entertainment, feels Divya Nair.
In four years, the state has had to battle cyclones, two floods, and two epidemiological disasters. If people bring Pinarayi Vijayan back to power, he must have done something right, obsevers Aditi Phadnis.
Smuggled gold, which is selling sharply lower than the spot market price, is also responsible for discounts not ending. Some consumers are selling high amounts of gold.
Sales of gold coins and bars should be curbed after reaching around 300 tonnes
Hawala premium crosses 4 per cent%, as Akshay Tritiya boosts demand; spot delivery premium also doubles.
Imports are down also because local traders are clearing unaccounted stock after introduction of 1 per cent excise duty
'If Pinarayi Vijayan gets another term, Kerala will be a state where everybody has a house.'
The illegal trade in red sanders wood, which sells for up to Rs 80 lakh a tonne in some Asian countries, involves a complex nexus of smugglers and impoverished woodcutters.
March was the worst month for gold imports because of a strike by jewellers over the imposition of an excise duty.
While the government has not made the report public, sources said the panel had recommended a sharp cut in all taxes on the gold business, including import duty and goods and services tax which amounts to over 13%.
The recent restrictions on gold imports will encourage smuggling and grey markets activities in the country.
Global gold demand hit an 11-year low in 2020 at 3,759.6 tonnes, mainly due to a weak October-December quarter and the COVID-19 related disruptions across the world driving a muted consumer sentiment throughout the year, the World Gold Council (WGC) said in a report. The overall consumer demand during 2019 was at 4,386.4 tonnes, while in 2009 the overall demand was at 3,385.8 tonnes, according the WGC's 2020 Gold Demand Trends report. Global gold demand dropped by 28 per cent year-on-year (YoY) to 783.4 tonnes in the fourth quarter compared to 1,082.9 tonnes during the October-December period of 2019, the report stated.
Non-resident Indians are bringing gold into the country by taking advantage of rules that allow each individual to carry 1 kg of the metal, helping traders cope with restrictions on imports during the peak wedding season.
India made it mandatory for customers to disclose their tax code, or Permanent Account Number (PAN), for purchases above Rs 200,000.
In august last year, the government had raised import duty on gold and silver to 10 per cent to curb the surging imports and burgeoning CAD.
Consumers during the quarter sold 37.9 tonnes of old gold, which is the highest quarterly sale after September 2016, when old gold sale, or scrap supply, was 39 tonnes.
Over three kg of gold, worth Rs 91 lakh, was seized on Sunday in two separate cases at Chennai and Kochi airports.
Gold imports, which peaked at 162 tonnes in May, came down to 19.3 tonnes in November.
However, some experts, including RBI Governor Raghuram Rajan, have favoured doing away with curbs on gold imports because they lead to smuggling.
Despite the recent imposition of import rule and high duties, the yellow metal continues to attract buyers.
The LDF was also leading in 10 out of the 14 district panchayats and 108 block panchayats of the total of 152, according to the State Election Commission figures.
The government on Friday reduced the import tariff value on gold and silver to $420 per 10 grams and $645 per kg, respectively, taking cues from firm global prices.
Gold prices are likely to rise by up to Rs 700 per 10 gram in the short term with tapered demand following the government decision to hike import duty on the precious metal, according to jewellers and analysts.
Govt clamps have resulted in 93% decline in April-November
Congress MLA Sukhpal Singh Khaira was arrested by the Punjab Police in connection with a 2015 drugs case on Thursday morning, official sources said.
Widening of the tax base, doing away with cess and surcharge, improvement in compliance and moderation in tax for emerging sectors are some of the suggestions submitted to the Finance Ministry ahead of the Budget by Think Change Forum (TCF). Experts are of the opinion that there is a need to grow tax revenues for the government to drive economic growth and make investments in developmental activities, TCF, the think tank said in a statement. Towards this end, poor compliance was identified as a weak link in achieving targeted collections leading to complex issues like overtaxing, complicated tax structures, rising litigation, among others.
Levy in India one of the highest in the world; finance minister urges banks to tell customers not to invest in the metal.
The government has retained 10% duty on import of the yellow metal.
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