Budget 2013: Sectors on radar : Commodity sector
Budget 2013: Sectors on radar  

Commodity sector

This sector remains at centre-stage due to the rising import on gold and its affect on the burgeoning current account deficit. Though the government has recently hiked the import duty on gold from four percent to six percent, there are speculations that the government may hike it further.

The government may introduce more changes in gold deposit schemes, it may launch more financial instruments like Rajiv Gandhi Equity Scheme to curb gold imports.

The Finance Ministry may also levy a commodity transaction tax (CTT) on commodity derivatives. Though this move might see strong objection from the commodity market since commodity transactions have been exempted from any levy so far.

Ajeet Kumar/Reema Sharma
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