Log In

 
Company : RiddiSiddhi Bullions Ltd. 
Friday, February 3, 2017 11:40AM IST (6:10AM GMT)
 
(BSE:524480)
Mr. Prithviraj Kothari, MD: RSBL Welcomes Indian Budget 2017
Mumbai, Maharashtra, India

Managing Director of RiddiSiddhi Bullion Ltd, Prithviraj Kothari, while sharing his valuable views on the Indian Budget 2017 stated that it can be considered as a revolutionary budget. Some of the key announcements made during the Budget like capping the maximum cash donation to INR 2000, steps to avoid money laundering etc are noteworthy.
 

But the Bullion Trade reforms that were the key to the survival of industry did not come through.  One of the biggest casualties of Demonetization was the Bullion Industry. Right from the beginning, I support the idea of Digital payments but at present Industry looks for answers.
 
Cash transaction limit was earlier not specified. Now it has been brought to Rs. 3 lakh. Moreover, 100% penalty shall be levied on the recipient when the amount received from one person exceeds Rs. 3 lakh. Taking it on a positive note, the limitation of cash transactions for individuals to Rs 3 lakh would help towards a better cashless economy of India.
 
Import duty on Gold has not been reduced from the existing rate of 10%. So also PAN Card limit remains at Rs. 2 lakh only. Bullion Industry anticipated that custom duty shall be reduced in the Budget 2017-18 as import figure has dropped down to 6% from 10% but with GST to be implemented in the near future, industry was expecting a favourable duty.
 
On a scale of 1 to 10, I would personally rate this budget as 7. 

Photo Caption: Mr. Prithviraj Kothari, Managing Director - RSBL

 
For News Release background on RiddiSiddhi Bullions Ltd. click here
 
Media Contact Details
Nirmal Phophalia, Newsmen PR, +91-9870003933, newsmenpr@gmail.com
 
 
Submit your press release
More News from RiddiSiddhi Bullions Ltd.

27/12/2017 10:30AM Image

RiddiSiddhi Bullions Ltd. Wins Several Recognitions on Being Associated with Flipkart

India’s premier bullion company, RiddiSiddhi Bullions Ltd. (RSBL) has always been the topmost choice of customers for buying gold, silver & Platinum. Keeping up with this, they were conferred with the greatest honour at ...

27/11/2017 5:25PM Image

RiddiSiddhi Bullions Ltd.'s Vice President, Purvesh Shah Presented with Top Zonal Flipstar of the Year 2017 Award during The Flipstar Awards 2017

One of the top bullion companies of India, RiddiSiddhi Bullions Ltd. (RSBL), was conferred with the greatest honour the "Top Zonal Flipstar of the Year 2017"" Award during the Flipstar Award 2017 ceremony, from the ...

17/08/2017 5:50PM Image

RiddiSiddhi Bullions Ltd.'s Managing Director, Mr. Prithviraj Kothari is Awarded with Best Gold Bullion Dealer of the Year 2016-17 at India International Gold Convention Ceremony

One of the top bullion companies of India, RiddiSiddhi Bullions Ltd. (RSBL), was conferred with the highest honour at the recently concluded awards from the India International Gold Convention (IIGC). Mr. Prithviraj ...

Similar News

17/01/2018 4:15PM Image

Grab Announces Acquisition of Bangalore-based Payments Startup iKaaz

Grab, the leading on-demand transportation and mobile payments platform in Southeast Asia, today announced it has acquired Bangalore-based payments startup iKaaz.

No Image

17/01/2018 3:43PM

Andersen Global Continues Expansion in Dubai with GN Global Consulting

Andersen Global is pleased to announce an added presence in Dubai via a Collaboration Agreement with GN Global Consulting, a tax firm led by Partner Abdul Wahid Nagda. GN Global Consulting is an affiliate of Griffin ...

Multimedia Gallery
Mr. Prithviraj Kothari, Managing Director - RSBL