ENA Sectors 2024-07-23 12:51:29 <p><span style="font-size:14px"><strong>New Delhi, Jul 23 (KNN)</strong> Finance Minister Nirmala Sitharaman, in her 2024 Union Budget speech, announced plans to reduce customs duties on precious metals.</span></p> <p><span style="font-size:14px">The proposed changes would lower the customs duty on gold and silver to 6 per cent, while the duty on platinum would be reduced to 6.5 per cent.</span></p> <p><span style="font-size:14px">This move is expected to impact the jewelry industry and potentially affect precious metal prices in the Indian market. The Finance Minister's proposal aims to adjust import costs for these valuable commodities.</span></p> <p><span style="font-size:14px">The announcement was part of the broader Union Budget presentation, which outlines the government's financial plans and policies for the upcoming fiscal year.</span></p> <p><span style="font-size:14px">The reduction in customs duties on gold, silver, and platinum could have significant implications for various sectors of the economy, including trade and manufacturing.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38708 https://knnindia.co.in/news/newsdetails/sectors/finance-minister-proposes-reduction-in-customs-duties-on-precious-metals-in-union-budget-2024 2024-07-23 12:51:29 knnindia.co.in