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Bullion Traders Protest – Ink, eggs thrown at Modi, Jaitley Posters – Bullion traders and jewellers are protesting against the Budget proposal to impose 1 per cent excise duty on jewellery.
As many as 150 people have been booked in connection with smearing of black ink and throwing eggs at the posters of Prime Minister Narendra Modi and Finance Minister Arun Jaitley in Meerut during a demonstration by the businessmen and bullion traders four days ago. Meerut: Traders and jewellers carry black flags during a protest against Central Government over the proposed hike of excise duty in the Union budget, in Meerut on Wednesday.
Bullion traders and jewellers are protesting against the Budget proposal to impose 1 per cent excise duty on jewellery. In his Budget 2016, FM Arun Jaitley sought to impose an excise duty of 1 per cent without input tax credit or 12 per cent with input tax credit on articles of jewellery excluding silver other than studded with diamond or some other precious stone with a higher exemption and eligibility limit of Rs 6 crore and Rs 12 crore, respectively. Manufacturers and dealers of gold jewellery all over India are agitated against the budgetary proposal.
The FIR was registered under sections 147 (rioting), 341 (wrongful restraint) and 505 (public mischief) of the Indian Penal Code in which traders’ leader Rajkumar Bharadwaj, General Secretary of Meerut Bullion Traders Association Survesh Kumar Saraf and three others have been named while 145 are unknown, police said. They said the process to identify others involved in the incident is on.
According to police, on March 23 on the occasion of Holi, city-based businessmen and bullion traders had organised a demonstration during which protesters at Begumpul smeared the posters of the Prime Minister Narendra Modi and the Finance Minister Arun Jaitley with ink and also threw eggs at them.
Source: Financial Express