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India raised the import duties on gold and other precious metals on Friday in a surprise move that industry officials say could dampen retail demand and boost smuggling in the world's second ...
The Gold (Control) Act, 1968 is a repealed Act of the Parliament of India which was enacted to control sale and holding of gold in personal possession. High demand for gold in India with negligible indigenous production results in gold imports, leading to drastic devaluation of the Indian rupee and depletion of foreign exchange reserves to alarming levels.
Gold smuggling was rampant in India until liberalisation, which repealed The Gold (Control) Act, 1968 that prohibited the import of gold except for jewellery. [4] In the 2011–12 period India's current account deficit burgeoned to 4.2% of its GDP. [5] This was due to high prices of oil and gold, which the country imports in huge volumes. [6]
This is a list of countries by tariff rate. The list includes sovereign states and self-governing dependent territories based upon the ISO standard ISO 3166-1. Import duty refers to taxes levied on imported goods, capital and services. The level of customs duties is a direct indicator of the openness of an economy to world trade.
Kwanzaa (December 26-January 1) Related: Keep the Christmas Spirit Alive with Charity, Goodwill, and 50 Happy Boxing Day Wishes. December's Daily List of Holidays and Observances December 1 ...
Make sure these December holidays and observances are on your calendar. Find unofficial awareness days, along with weekly and monthly observances.
India was the first developing country to introduce a preferential tariff program for the LDCs. [1] [2] Under the DFTP scheme, 98.2% of product categories originating from LDCs are offered duty free and preferential treatment. Only 1.8% of product categories imported into India from LDCs are subject to regular duties.
December Daily Holidays and Observances Dec. 1: Antarctica Day, Day Without Art, National Christmas Lights Day, National Eat a Red Apple Day, National Peppermint Bark Day, National Pie Day, Rosa ...