Post-Budget Quote – Prithviraj Kothari, MD and CEO, RSBL

Mr. Prithviraj Kothari

Mr. Prithviraj Kothari

“Union Budget 2022 failed to add glitter to the Bullion Industry as there is only one change of Custom duty cut on Diamonds from 7.5% to 5%. Bullion Industry had a lot of expectations from this budget from approval of setting up of Bullion bank to tax breaks on income from the sale of old gold and on earnings from sovereign-gold bonds, from the removal of CTT to the reduction of GST rate on making handcrafted jewellery and job work changes and much more. I hope all such expectations are met in the near future to develop a transparent and encouraging Gold ecosystem in our country.”

-Prithviraj Kothari, Managing Director of RiddiSiddhi Bullions Limited (RSBL)

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