"The first budget of the decade has no announcements for the gems and jewellery sector and that is a big disappointment. The announcement of the bullion exchange in gift city seems interesting but further details are awaited. The budget seems to be a very strategic and long term but no cognisance has been taken of problems on the ground. The changes in income tax slabs come with riders and will eventually make tax filing more complicated for the common man. Every individual will now require an accountant to file taxes. The only silver lining is the sops announced for the farming sector, if that has a positive impact then consumption of gold will increase, however, we need to see the finer print of the budget to accurately judge it impacts. Overall, our requests for reduction of import duty and other sops to increase consumption have gone unheard and that is disappointing." by said Dr Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers."