Muscat – The government has earmarked substantial funds for these sectors, signalling a concerted effort to enhance connectivity.

Regarding the Union Budget 2024, this is what Shamlal Ahamed, MD-International Operations, Malabar Gold & Diamonds had to say “While the Union Budget for the upcoming fiscal year does not carry any landmark provisions, it does carry some welcome initiatives, particularly in the realm of infrastructure development. The government has mandated a significant spending allocation towards air and rail travel.
Once implemented, this will be major boost to connectivity, serving as a substantial catalyst to
trade & tourism. The proposed Housing scheme for impoverished communities is also a great
initiative, which aligns closely with Malabar Group’s ESG initiatives. We were expecting a
deduction on gold import duty, which would have curtailed the parallel import of gold.”