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Government invites jewellers for talks

Delhi,Business/Economy, Wed, 04 Apr 2012 IANS

New Delhi, April 4 (IANS) The government Wednesday said it will hold talks with jewellers who have been protesting for the last three weeks against the budgetary proposals to impose one percent excise duty on unbranded jewellery and hike the import duty.

 

Finance Minister Pranab Mukherjee will meeet representatives of jewellery manufacturers from major cities Friday, an official statement said.

 

"The concerned associations have been requested to nominate two representatives each for the said meeting," it said.

 

Jewellers across the country have been striking ever since the finance minister in the union budget March 16 proposed to levy one percent excise duty on unbranded jewellery and double the import duty to 4 percent on gold.

 

The finance ministry said it has received several representations on behalf of the jewellery makers, including artisans and goldsmiths, seeking "reconsideration of this proposal on the ground that the industry is unorganised and fragmented and would find it difficult to comply with the provisions of Central Excise Law."

 

 


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