The Taliban regime has appointed Ikramuddin Kamil as the acting consul in the Afghan mission in Mumbai, Afghan media has reported. This is the first such appointment made by the Taliban set up to any Afghan mission in India. The appointment, announced by the Ministry of Foreign Affairs of Afghanistan, is seen as an effort to strengthen diplomatic ties with India and enhance its presence abroad. Kamil, who holds a PhD degree in international law, is expected to facilitate consular services and represent the interests of Afghanistan in India.
India imported 769 tonnes of gold in 2014, down from 825 tonnes in 2013.
Gold, the safest haven amid the ongoing uncertainty, also emerged as one of the most lucrative investment options in financial year 2022-23 with an impressive return of 16.1 per cent in rupee terms, and 2.3 per cent returns in dollars. And, had it not been for the very high inflow of smuggled gold and the huge discount prevailing in the market due to high prices, the returns in gold would have been much higher, analysts said. The precious metal has consistently been delivering positive returns in India since 2016.
For Pinarayi, a victory in Thrikkakara would have come as public endorsement of his development initiatives, including controversial K-Rail project, which has witnessed widespread protest
In the past 18 months, the department of revenue intelligence has seized 50 containers of cigarettes, valued at nearly Rs 200 crore
Minutes after she concluded her press conference, she told a TV channel that her colleague Sarith PS, who also worked with her at HRDS India, had been kidnapped in broad daylight from her home by 3 or 4 unknown people.
Customs officials are busy at ports and airports, scanning passengers to ensure that COVID-19 virus-affected people are traced. So, officials are not able to focus much on baggage checking. This could lead to more gold getting smuggled into the country as luggage check at airports is now random unlike earlier where every bag was checked thoroughly.
They are now scaling or shutting down their businesses because they can't compete with untaxed grey market gold. India's gold smuggling has increased significantly since the import duty was increased in the Union Budget 2019 in contravention with the broader market expectations of a cut.
Suresh and Sarith had moved a joint plea seeking protection from arrest in the case lodged by the police on the complaint of a ruling Left Democratic Front MLA's complaint alleging conspiracy behind her revelations against him, the chief minister and his family.
CAD touched a historic high of $88 billion in 2012-13.
Gold import this financial year is estimated at 945 tonnes.
The scheme, touted as a panacea to burgeoning CAD, was a huge flop that fostered a spike in smuggling and allowed several Gitanjali-like players to make a killing
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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.
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.
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.
In an interview to Business Standard, Rangarajan says CAD will be brought under control at around two per cent of the gross domestic product.
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.
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.
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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".
Sales of gold coins and bars should be curbed after reaching around 300 tonnes
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.
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.
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.'
March was the worst month for gold imports because of a strike by jewellers over the imposition of an excise duty.
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.
You do get your money's worth simply watching these girls do what they are best at: Entertainment, feels Divya Nair.
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.
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.
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.
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.
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