The Gem & Jewellery Export Promotion Council’s Chairman, Pramod Kumar Agrawal,   released a statement soon after the Union Minister Hon’ble Shri Piyush Goyal presented the Interim Budget in Parliament earlier today.

GJEPC Chairman’s statement said:

“We understand that the budget presented today was a vote-on-account budget and is not a full budget. We welcome the Government’s   thrust on ensuring progress and prosperity through the budget.

“The relief given in direct taxes to middle classes and farmers will be good for increasing jewellery demand in the country.

“Also we hope that with the capital infused in the banking sector and banks coming out of PCA will help in solving the shortage of working capital for our exporters.

“At the same time, we are disappointed that the demand for decrease in import duty of raw materials like gold, silver, cut & polished  diamonds and coloured gemstones were not included in the budget today.

“We hope that during the declaration of the full budget after elections the gems and jewellery sector’s demands will be addressed.”