Government likely to roll back excise duty hike on gold

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Mumbai, Apr 6: The centre is likely to roll back the excise duty hike on gold and other jewellery, said sources.

The step comes in after jewellers' protests against the import and excise duty hike on gold and other non-branded jewellery.

Congress President Sonia Gandhi on Friday met the jewellers and assured to look into the matter regarding a rollback. Finance Minister Pranab Mukhrejee is also expected to meet jewellers today.

Meanwhile, the workers' strike has entered its 21st day today. Jewellers have been demanding a roll back in the hike in import duty on gold and excise duty on non-branded jewellery.

The import duty on gold bars, platinum and coins were hiked in the budget 2012 following which shops were shut down by many jewellers in protest of the move terming it as "unviable".

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