English | دری

India raises gold import tax

in International Business

India raises gold import tax

indian goldIn a bit to tackle its trade deficit, Indian government has raised import tax on gold from 4% to 6%.

India’s trade deficit has hit a record 5.4% of total economic output between July and September last year.

Some analysts believe the move would have little impact, as last year’s tax raise from 2% to 4% only had a temporary effect on demand for gold.

India is the world’s largest importer of gold. Many Indians buy gold jewelry and coins to protect the value of their money in the face of inflation.

Related Articles

'Ferrari of trains' puts Italy on fast track

Privately-funded service set to offer luxurious high-speed travel between Milan and Naples. Ferrari president, Luca di Montezemolo, is an ambitious man.

G20 output stagnating

According to data compiled by the Organization of Economic Cooperation and Development (OECD), the G20 group of leading world economies’

Spanish new low-cost airline Iberia Express launched

Spain’s Iberia has launched a new entry in Europe’s competitive market for low-cost airlines. The new airline, Iberia Express, begins

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.