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Hike customs duty on gold, diesel prices to finance CAD: Planning Commission

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The customs duty on gold and retail prices of diesel may witness another hike if the recommendations of the Planning Commission are accepted as concerns are being raised over financing of current account deficit (CAD) in 2013-14.

 

In a presentation to its chairman – Prime Minister Manmohan Singh – the Planning Commission has suggested that higher duty than the current 8% be imposed on gold imports in 3-6 months.

 

The Commission also wanted oil marketing companies to raise diesel prices by Rs 2-3 per litre to restrain demand. Read More

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