‘Tax tweak, farm income boost may lift gold demand’
Gold traders are upbeat that the measures proposed in the Budget to boost farmers’ income and reduce taxes for the middle class will boost demand for gold jewellery.
Demand for gold last year had dropped by 9 per cent from 2018 to 690.4 tonnes due to high price of the metal.
In her budget speech on Saturday, finance minister Nirmala Sitharaman laid down a 16-point agenda to double farmers’ income by 2022. She also announced a new tax regime under which individuals foregoing exe ..