Bullion market shut for 2nd day as jewellers dig in heels

Bullion market in the national capital remained closed for the second straight day today as jewellers refused to budge from their stand against the budgetary proposal to levy one per cent excise duty on non-silver jewellery. Demanding duty rollback, jewellers, including those from some branded showrooms, shuttered shops for the second day, All India Sarafa Association Vice-President Surinder Kumar Jain told PTI.

Some jewellers kept their shops shut in Lucknow as well. However, it was business as usual for most jewellery showrooms in Mumbai and Kolkata.

Jewellers had temporarily called off their 42-day strike on April 13 for 12 days after the government’s assurance that there will be no harassment by excise officials.

The Centre has constituted a sub-committee under former chief economic advisor Ashok Lahiri to look into the demand of the jewellers.