Budget 2024-25: FM Proposes to Reduce Customs Duty on Gold and Silver

In the Budget for 2024-25, Finance Minister Nirmala Sitharaman proposed a reduction in customs duty on gold and silver. The revised duty structure aims to ease the financial burden on consumers and businesses dealing with these precious metals. The move is expected to make gold and silver more affordable, potentially stimulating demand and boosting the jewelry industry. Additionally, the reduction aligns with broader economic objectives of supporting domestic manufacturing and balancing trade deficits.