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Strictures of FM on gold welcomed
Many buyers of gold jewellery especially women here on Thursday welcomed the strictures laid down by the Union Finance
Visakhapatnam: Many buyers of gold jewellery especially women here on Thursday welcomed the strictures laid down by the Union Finance Ministry which came out allowing 500 grams of gold for married people, 250 grams for unmarried and 100 grams only for males.
After demonetisation of higher value notes to curb black money, now the Centre is focusing on gold stocks to further safeguard the country’s economy.
Retired Economics Professor of AU Srirama Murty welcoming the Finance Ministry’s guidelines on gold, said it would not affect the people in any manner because majority of middle and lower income group people possess gold ornaments within the limits only. However, it would affect those having black money and changing it to gold form.
Saraswathi and Rama Devi, who had come to jewellery shop to buy ornaments also welcomed the Centre’s rules on gold because middle class people never cross the limits. Such rules will help increase the number of IT payers, they added.
