Union Budget increases in disposable income
Boost consumer spending & drive demand for jewellery Rajesh Rokde, Chairman, All India Gem and Jewellery Domestic Council (GJC), commented, “The reduction in personal income tax rates, along with the tax exemption limit raised to Rs12 lakh, is a positive move that will significantly boost consumer spending and drive demand for jewellery. This increase in disposable income is expected to particularly benefit the gold and branded jewellery sectors. Additionally, the abolition of TDS and TCS on high-value transactions above Rs50 lakh will streamline operations, ease compliance burdens, and bring more transactions into the formal, hallmarked market. These reforms will foster transparency, trust, and sustainable growth in the jewellery industry." Avinash Gupta, Vice Chairman GJC, said, "The reduction in personal income tax rates is a welcome move as it will enhance disposable income, leading to increased consumer spending, including in the jewellery sector. Addition...