Sonia wants lower import duty on gold

Congress president Sonia Gandhi has written to the Commerce and other ministries concerned, seeking a cut in import duty and easing of physical curbs on gold imports, accordi­ng to a letter released on Thu­rsday.

“You are req­u­e­sted to look into the matter (dem­ands of the gems and jewellery industry) for appropriate action,” the letter stated.

But Finance Minister P Chidambaram reiterated from Davos that easing any curbs on gold imports will be possible only after India has a firm grip on its current account deficit situation.

“Until we have a firm grip on the current account deficit, I do not contemplate any rollback in any measure. We will get a full idea of the current account deficit when the Budget is presented and the year comes to an end,” Chid­a­m­baram told a private TV ch­a­n­nel on the sidelines of the World Economic Forum Ann­u­al meet.

However, he added that he had not yet seen Gandhi’s letter and couldn’t comment on it.
Related report on Page 12