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As Union Finance Minister Nirmala Sitharaman is presenting the Budget 2022-23 today, it is expected that there is a possibility of reducing the import duty on gold and silver in this budget, which will reduce the prices of gold and silver.
But against expectations, gold prices are likely to rise as the budget hiked import duties on gold and gold, silver, and diamonds.
While the price of gold and silver has already risen very high, it was expected that the central government will take action to reduce the price of gold, but now the public has been shocked that the tax on gold and silver has been suddenly increased.
It is also worth noting that the price of cigarettes will also increase after the increase in customs duty on cigarettes.