'Jewellers strike causes 1 cr revenue loss to govt'

The jewelers continued with their strike on Tuesday against the excise tax imposed on non-branded jewelry. Representatives of jewelry associations met the finance minister on Tuesday to discuss the matter but the results failed to bear any fruits.

The jewelers continued with their strike on Tuesday against the excise tax imposed on non-branded jewellery. Representatives of jewelry associations met the finance minister on Tuesday to discuss the matter but the results failed to bear any fruits. The jewelry shops remained closed in the city and jewellers held agitation against the finance minister.

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President Ludhiana Jeweller's Association Anand Sikri said, "Our representatives met the finance minister, but their meeting was not fruitful so our next plan of action will depend on the directions of our national representatives."

"If we talk about Ludhiana alone, an estimated loss of around Rs 1 crore a day affects the government's revenue. We are very much against the excise on non-branded jewellery and our shops will remain close on March 21also," Sikri added.