The government said that even though gems and jewellery exporters have demanded a cut in the import duty, there is no proposal under consideration to do so. The government on Friday said there is no proposal under consideration to reduce import duty on gold. "There is no such proposal under consideration at present," Minister of State for Finance Santosh Kumar Gangwar said in a written reply to the Lok Sabha. Gems and jewellery exporters have demanded cut in the import duty to boost exports. "The same was examined and it was decided not to make any changes in customs duty on fabrics," he said.

Source: dna December 02, 2016 11:45 UTC