Pune: Union Budget 2024-25! Gold becomes cheaper by Rs 3,000
Pune: Union Finance Minister Nirmala Sitharaman presented the first budget of the NDA government’s third term. Silver and gold rates have reduced. Its impact was immediately experienced in Pune and Jalgaon markets. Customers gathered to buy gold got Rs 3,000 benefit per tola within two hours. The rate of a tola of gold had reached Rs 73,000.
Customers at jewellery shops expressed satisfaction over the Union Budget. Ranka Jewellers Fatehchand Ranka broke this news to his customers.
The reduced gold rate is a result of a big cut in customs duty for the yellow metal. Gold is an important investment for people from all walks of life, given its traditional significance in our society. Every married woman wears a mangalsutra made of gold around her neck. Gold jewellery is a vital part of a wedding ceremony. Therefore, a hike or dip in the gold rate is always important for common people.
Earlier, the customs duty for gold and silver was 15 pc. It has been reduced to 6 pc now, resulting in a significant dip in the rate. Thus, around Rs 3,000 has been reduced per tola of gold.
The exact change
Customs duty on gold, silver – 6 pc
Customs duty on platinum – 6.4 pc
Customs duty on ammonium nitrate – 10 pc (earlier 7 pc)
Tax slabs
Standard deduction increased to Rs 75,000 from Rs 50,000
Income up to Rs 3 lakh is tax-free
Rs 3 lakh to Rs 7 lakh – 5 pc
Rs 7 lakh to Rs 10 lakh – 10 pc
Rs 10 lakh to Rs 12 lakh – 15 pc
Rs 12 lakh to Rs 15 lakh – 20 pc
Rs 15 lakh and above – 30 pc
