Bullion market closed again as traders dig in heels

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The bullion market in New Delhi will be closed in opposition to the budgetary proposal for one per cent excise duty on non-silver jewellery,

“Demanding duty rollback, jewellers, including those from some branded showrooms, shuttered shops for the second day,” VP, All India Sarafa Association, Surinder Kumar Jain was quoted by PTI as saying.
In the same wavelength, jewellers of Lucknow have also closed their shops. Mumbai and Kolkata showrooms, though are operational but the business is at a very slow pace.
Jewellers has opened their shops after a 42 day strike on April 13, after the Government had assured them that they will not have to face any harassment by excise officials.
To sort out this issue, the Centre has constituted a sub-committee led by former chief economic advisor Ashok Lahiri. The committee will deal with the demands of the jewellers.

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