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Pranab Mukherjee to meet protesting jewelers

April 6, 2012 - New Delhi

Finance Minister Pranab Mukherjee has convened a meeting with jewellery manufacturer representatives of major cities here today to address their concerns over the increase in import duty on gold and excise duty on unbranded jewellery in the Budget for 2012-13.

The concerned associations have been requested to nominate two representatives each for the meeting. xcise duty of one percent has been imposed on unbranded jewellery of precious metals (other than silver) as part of the Union Budget proposals for 2012-13.

Several representations have been received in the Ministry of Finance on behalf of the manufacturers of jewellery including artisans and goldsmiths seeking reconsideration of this proposal on the ground that the industry is unorganized and fragmented and would find it difficult to comply with the provisions of Central Excise Law.

Industry members, who have been on strike in several parts of the country since the presentation of the Budget on March 16, are also expected to meet Congress President Sonia Gandhi before their meeting with Mukherjee. ANI)


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