Bad news for gold lovers, new budget increases price of yellow metal

There is bad news for all those who have a special love for the shining yellow metal. Gold now becomes costlier as custom duty on gold is increased by 2.5%

Bad news for gold lovers, new budget increases price of yellow metal
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New Delhi, July 5: There is bad news for all those who have a special love for the shining yellow metal. Gold now becomes costlier as custom duty on gold is increased by 2.5%.


Finance Minister Nirmala Sitharaman also proposes to increase special additional duty and road and infrastructure cess on diesel and petrol by Re 1/litre.


Finance Minister Nirmala Sitharaman says a  new series of coins of Re 1, Rs 2, Rs 5, Rs 10, Rs 20 easily identifiable to the visually impaired were released by the PM on 7th March 2019. These coins will be made available for public use shortly. 



Coins in this new series have been designed by the National Institute of Design with several differentiating features to make it easier for visually-impaired individuals to identify them. Not only distinctive markings, but the coins will also now get bigger and weigh more with the increase in the denomination to make recognising them easier.



The obverse face of all the coins will show the Lion Capitol of Ashoka Pillar with the legend 'Satyamev Jayate' in Hindi inscribed below. On its left flank will be the word 'Bharat' in Hindi, and on the right flank will be the word 'INDIA' in English.



The reverse face of the coins will have their denominational values written in international numerals. The Rupee symbol will be placed above this denominational value. The denomination of the coin will be written in words, in Hindi on top right and in English on the top right and bottom right peripheries of the reverse face. For example, the Rs 20 coin will have 'Bees Ruapye' in Devanagari script and 'Twenty Rupees' written on its back. The year of minting in international numerals shall be shown on center of the left periphery of the coin.



Stay tuned for more news on Budget.


With Agencies, Pic Representation, from Google

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