Chennai, May 14:
Tamil Nadu Congress Committee (TNCC) president K Selvaperunthagai on Wednesday strongly criticised the Union government’s decision to impose a 15 per cent customs duty on gold and silver, saying it would increase the financial burden on middle-class and poorer families.
In a statement, he said gold is not just a commodity in Tamil Nadu but a key form of savings and financial security, especially for women. He argued that any increase in its cost would directly impact household planning and emergency financial stability.
Selvaperunthagai also targeted Prime Minister Narendra Modi, alleging inconsistency between advising citizens to reduce gold purchases and the recent decision to raise customs duty on precious metals within days.
He said rising inflation combined with higher taxation was squeezing ordinary families, adding that the policy would disproportionately affect those who rely on gold as a traditional form of savings and security.
The TNCC chief further accused the BJP-led Union government of burdening citizens’ savings through taxation measures, stating that the duty hike would make gold ownership more difficult for common households.