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Finance Minister to hold meeting with representatives of Jewellery manufacturers
April, 05th 2012
                                                                           "15"
                                                                      pib.nic.in

                      PRESS INFORMATION BUREAU
                        GOVERNMENT OF INDIA
                                 *****

FM TO HOLD MEETING WITH REPRESENTATIVES OF JEWELLERY
 MANUFACTURERS FROM MAJOR CITIES ON FRIDAY 6TH APRIL,
                         2012

                                                 New Delhi: Chaitra 15, 1933
                                                              April 04, 2012



          Excise duty of 1% has been imposed on unbranded jewellery of

   precious metals (other than silver) as part of the Union Budget proposals for

   2012-13. Several representations have been received in the Ministry of

   Finance on behalf of the manufacturers of jewellery including artisans and

   goldsmiths seeking reconsideration of this proposal on the ground that the

   industry is unorganized and fragmented and would find it difficult to comply

   with the provisions of Central Excise Law. There are reports that some

   members of the industry have been on strike in several parts of the country

   since the presentation of the Budget on 16th March, 2012.



         In order to understand their concerns, the Union Finance Minister Shri

   Pranab Mukherjee has convened a meeting with representatives of jewellery
manufacturers from major cities on Friday 6th April, 2012 at New Delhi. The

concerned associations have been requested to nominate two representatives

each for the said meeting.

                                *********
DSM/SS





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