By bringing the import duty on gold back down to 2%, the government could squeeze out the space for smuggling, improve tax compliance, and encourage larger remittances
The Central government hiked import duty on gold to 15% from 10.75% currently to ease pressure on the current account deficit (CAD) due to surging gold imports. The Centre also imposed a special additional excise duty of ₹6 per litre on exports of petrol and ₹13 per litre on exports of diesel.
Budget 2021: What Was In It For You And Me Among the major announcements for the general public were ITR exemptions for pensioners over 75, extension for deduction on interest paid on home loans and quicker access to bank deposit insurance
Updated: February 01, 2021 9:35 pm IST
Budget 2021 is expected to make mobile phones and chargers more expensive (File)
New Delhi:
Finance Minister Nirmala Sitharaman presented her (union) budget like no other - a budget that would have to stimulate economic growth amid the worst global health crisis in 100 years - on Monday morning, with most (if not all) of India s 130 crore people listening intently.