Ornamental gold the most sought after by woman and which has a traditional importance in our custom is to cost more and thanks to our Finance Minister.

The Finance Minister Pranab Mukherjee has increased the Customs tax on Gold imports which eventually increases the cost of the yellow metal. The ladies of the state have to restrict their shopping for platinum and Gold this fiscal year owing to the escalated costs. The import tax on gold has been increased to 5 percent and on Platinum by 10 percent as per the budget proposal presented by the FM in the Parliament, today. One salient point is that branded silver items get exempted from excise component. Henceforth all purchase of above two lakhs of the yellow metal attracts TDS, instantly. That only means no more evading tax, on unauthorized buying of the yellow metal.

Probably this move presented in the annual budget 2012 will affect the ladies more, who are fanatics of the metal. This proposal could be bad for the UPA in the forthcoming elections. But as of now for people who have planned weddings in 2012, have to be contented with minimum expenditure on the yellow metal. The import duty increase escalates the price of the yellow metal which is already touching the skies owing to international crisis. (With inputs from internet- AarKay)