NRIs Gold J

NRIs can now take more duty free gold jewellery

NRIs Gold J22-karat

With the announcement of new budget by the Indian Finance Minister P. Chidambaram, Non-Resident Indians can take more gold home.

As per the 2013-2014 budget speech, in the words of finance minister:

The baggage rules permitting eligible passengers to bring jewellery was last amended in 1991.  Gold prices have risen since, and passengers have complained of harrasment.  Hence, I propose to raise the duty-free limit to Rs. 50,000 in the case of a male passenger and Rs. 100,000 in the case of a female passenger, subject to the usual conditions.

That means considering today’s rate of gold of SR 192 per gram of gold and exchange rate of SR 1 = 14.63;

SR. 3,417 ( 17 grams) worth of gold for men

SR 6,835 (35 grams) worth of gold for women.

Many people would like it to be more, but still it is better than before.