HindustanTimes Mon,15 Sep 2014

Indian govt asked to increase limit of duty free gold for NRIs

PTI  Washington, March 02, 2013
First Published: 11:30 IST(2/3/2013) | Last Updated: 00:03 IST(3/3/2013)

An Indian American organisation has asked the Indian government to increase the limit of duty free gold that an NRI couple can bring to India.

The North American Punjabi Association (NAPA) in a statement has asked the Indian government to increase the limit to Rs. 3 lakh from the current Rs. 1.5 lakh.
"The proposed increasing limit of duty-free import of jewellery through passenger baggage to Rs. 50,000 for men and Rs. 1,00,000 for women will not prevent harassment to travellers but will also play an important role in increasing the corruption at the airports," NAPA spokesman Satnam Singh Chahal said.
"If the government of India is serious to attract Non Resident Indian to invest and contribute in the all over development of India then it should make it sure that there should not be any kind of harassment to NRI Visiting India ," he said.
NAPA also asked the government to make equity investment more attractive and Equity Savings Scheme should be liberalised to enable the first time investor to invest in mutual funds.

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