It’s raining gold at Kerala’s Kozhikode international airport. Every plane landing from the Middle East here now carries 40-80 kg of the precious metal, translating into Customs duties between Rs 86.8 lakh and Rs 1.74 crore. That’s just one flight, one airport. The state has two other international airports, at Kochi and Thiruvananthapuram, and the quantity of gold being brought in there is just slightly lower. Kerala gets an average of 120 flights from the Middle East a week. Do the maths. The UPA government first hiked the import duty on gold in January 2012, raising it to 2 per cent, from Rs 300 charged per 10 grams earlier. It was raised to 4 per cent in the budget for 2012-13, 6 per cent in January 2013, 8 per cent on June 5 and finally 10 per cent in August. The government hoped that the steps would check India’s rush for gold — and hence its burgeoning current account deficit.
The rush, obviously, continues. What is being seen at Kerala airports, officials suspect, is smugglers using passengers as legal carriers of gold since the last month, ever since the Directorate of Revenue Intelligence (DRI) busted a few gangs, caught bringing in gold using mainly young women. Indians who have stayed abroad for at least six months are allowed to legally bring in up to 1 kg of gold, with import duty paid in foreign currency. Indians travelling abroad can get in gold jewellery worth up to Rs 50,000 in case of men, and Rs 1 lakh in case of women, duty-free.
Read News In Full 12/01/14 Shaju Philip/Indian Express
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