Since the Union Budget was presented in the parliament this budgetary season, the proposal hasn’t satisfied all the industries. If some found the glass half filled, some were able to find the half emptiness. Same happened with Jewellers, bullion traders and artisans, who are on strike since the beginning of March, to showcase their dissatisfaction with one percent increase in excise duty, on non-silver jewellery.
From breadth to length of India, people involved in this industry are firm, with their decision regarding the protest and that is the reason why a disturbance on the surface of the tranquil ocean can be seen in metropolitan cities, where precious metals’ market is wearing deserted look since day one of the strike, which will go for an indefinite period.
Major industry experts, like Motisons Jewellers, are looking forward to Union Government’s initiative, which will curb the increased excise duty’s problem. Motisons Jewellers is a well-established name in the precious metal industry and one of the leading expertises, who support the whole industry and hopes for a better tomorrow, where no such plans are proposed.
Constituting a panel and appointing the former chief economic adviser, Ashok Lahiri as the supervisor, for resolving the problem by looking deep into the matter, is a hope that the government might come up with something better than that levied one percent increase excise duty.
As political leaders calling it an assassination attempt, the excise duty might have shattered some hopes but the steps that the government is taking to curb the crisis, are being called commendable by many industry specialists, including Motisons Jewellers.