The Union Budget has made efforts to drive further growth in the economy while addressing global slowdown and inflation-related concerns. It is also encouraging to see sustainable infrastructural developmental initiatives in the budget. The focus on providing a strong impetus for digitization, skill development and job creation is commendable and will also help propel the country in the future. The new income tax regime is a welcome decision and will be a relief for the middle class.

From a jewellery industry aspect, our key recommendation to reduce import duty for gold to cure illegal import has not been addressed and is quite disappointing.  We hope that this request will be taken into consideration and addressed in the best possible manner.’