Limit on Gold Holdings issued by Indian Government

Limit on Gold Holdings issued by Indian Government

Government on Thursday 1st December, 2016 said there is limit on Jewellery and ornaments to the extent of 500 gm for married lady, 250 gm for unmarried lady and 100 gm for male member will not be seized, even if prima facie, it does not seem to be matching with the income record of holders. Government on Thursday 1 December, 2016 said there is no limit on legitimate holding of gold and jewellery, including from inheritance, and there would be no seizure of bullion up to a certain limit even if that does not seem to match income.

Government Also said that there is close eye on gold purchases done by people after 8th November, 2016 and as a result big fall is expected in gold prices in coming weeks.

All businesses are already effected by currency change and now it is seems that decisions by government is more opposive to women's in India as they firstly have already forfieted there savings to male members in family to deposit in the accounts as in rural india not much ladies still hold an account and now news about gold price fall will make them a bankrupt as gold is also a part of there savings which is invested for future of mainly girl child marriage,