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The Reserve Bank of India in July introduced 80:20 scheme under which 20 per cent of the total gold imports was to be exported back.
The moves by the RBI, announced late on Wednesday, should increase supplies of gold and brighten the earnings outlook for jewellery makers after the government took tough measures to curb imports last year, analysts said.
The fair market value of an immovable property will be higher from the acquisition cost.
The reimposition of sanctions on Iran will have major impact on countries like India, with which it has traditional and historic trade relationship.
India's planned transition to electric vehicles will drastically affect the commodities market, says Aditya Gandhi
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The government has also raised the duty on gold ore/ concentrates/dore bars and silver dore bars ranging from 7 per cent to 10 per cent.
For the second straight year, the gems and jewellery industry is set for almost a washout of business on Akshaya Tritiya as only about 10 per cent of pre-Covid sales of 2019 are expected on Friday amid the raging pandemic sapping footfalls and purchasing power of people.
In the currency markets, the rupee lost another 10 paise to close at 1-week low of 63.54 against the US dollar
Here's the one and only fashion diary you need for the week.
The GST will be a national sales tax that will be levied on consumption of goods or use of services
Celeb-inspired ways to amp up your festive accessory game.
Ancient ashtadhatu idols of Lord Rama, Hanuman along with idols made of gold and silver of other deities worth crores of rupees were stolen by thieves from the Raghunathji temple at Sultanpur in RupiPalace at Kullu, police said on Tuesday.
Marriage season will end in the next two months and import growth is likely to taper off
The senior Congress leader was in New Delhi to campaign in Maharashtra Assembly polls.
The three hour long meeting was attended by Secretaries of departments of Revenue, Expenditure, Financial services and Disinvestment.
BSE proposes two models for making gold trading and investment transparent
India needs to sustain a GDP growth rate of 8 per cent to become a five trillion dollar economy by 2025, the Economic Survey has stated.
Round-tipping creates the opportunity for exporters to source funds at a much cheaper cost, which they divert to some other business.
While the gold policy covers every aspect, from sourcing gold to trading and investing in it, experts assert that the policy is incomplete if mining of gold in India isn't promoted.
Gold was among the least bruised by Monday's selloff, dropping half a percent versus a 6 percent slide in Brent crude and a 2 percent decline in copper.
The correlation between crop yield and expenditure on gold is positive.
Markets ended in red; index heavyweight under pressure.
Silver also fell further by Rs 150 to Rs 34,200 per kg.
Many offer personalised ornaments with 3D printed images and engraved names to lure customers in a scenario of high gold prices.
Silver, platinum and palladium all declined.
The commerce ministry has called a meeting on Monday to discuss tighter norms amid reports of increased round-tripping of gold
Even if the GST rate is 18-20 per cent, there would be no average impact on inflation.
The Union Cabinet on Wednesday approved the signing of a comprehensive economic cooperation agreement, a kind of a free trade pact, between India and Mauritius which is aimed at liberalising norms to boost two-way commerce
Derivatives exchange DGCX started trading futures for the S&P BSE Sensex
Finance Minister P Chidambaram on said that financing current account deficit (CAD) year after year is a challenge and the only way to deal with the problem is by increasing exports.
Official sources say that the finance ministry is aware of the possible spike in smuggling activity and has already asked intelligence agencies to tighten their vigilance and come down on the unofficial entry of gold into India.
'If unchecked, by 2017, the global volume of discarded e-waste will weigh almost equivalent to 200 Empire State buildings.'
Indian gold demand seen falling to 8-year low in festive quarter.
Markets end in red; bluechips struggle to keep pace.
India's jewellery consumption in Sept quarter increases 5% to 193 tonnes.
Confidence had ebbed in the last few years due to default by some errant domestic retailers and exporters. Moreover, many jewellers are believed to have diverted the fund collected through monthly deposit schemes to pay 'mark-to-market' margins on various loans.
For easy and wide access, the government plans to market the bond through post offices and various brokers.
Gold prices are already moving fast to the key level of Rs 30,000 per 10 gms
The free trade agreement (FTA) talks with India are no longer working towards a Diwali deadline though negotiations are progressing well, UK Trade Secretary Kemi Badenoch has said as New Delhi expressed confidence on Friday of an "early date" for a mutually beneficial deal. "There are ongoing negotiations as we know on the FTA. There is interest on both sides to see if we can work towards a deal, an FTA, that is beneficial to both the countries at an early date," external affairs ministry spokesperson Arindam Bagchi told reporters in New Delhi. It came as External Affairs Minister S Jaishankar spoke to his UK counterpart, James Cleverly, and referenced the Roadmap 2030 bilateral agreement signed between Prime Minister Narendra Modi and former UK PM Boris Johnson in May last year, with no specific reference to the FTA.
While an import duty is ruled out, a small excise duty on jewellery manufacturing can be on the cards.
