Find gold import and smuggling link, says FM Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman has asked Customs officials to map the relation between rising gold import and the smuggling of the yellow metal.

She said Customs duty on gold did not determine how much was smuggled, and it seemed to have its own “cycle and pattern”.

The remarks came against the backdrop of a substantial quantity of gold seized between April last year and March this year.

During the period, smuggled gold of 833 kg, worth more than Rs 400 crore, was confiscated, according to the latest smuggling report released by the Directorate of Revenue Intelligence (DRI).

“The authorities