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India's tax revenue from import of gold almost doubled

IMG Auteur
Published : August 05th, 2011
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Category : GoldWire

 

 

 

 

India's revenue from import of gold almost doubled in 2010-11 as compared to the previous year, Parliament was informed on Friday by Pranab Mukherjee, India’s finance minister, in a written response to Parliament.


Revenue turnover in respect of customs duty collected from the import of gold was Rs 2,553.52 crore in 2010-11 against Rs 1,567.64 crore in 2009-10.


According to World Gold Council, India is the largest consumer of gold in the world followed by China and among the largest consuming countries along with United States, Canada, Mexico, United Kingdom, France, Germany, Italy and Japan as far as Silver is concerned.

 

 

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