Ghaziabad, March 26 (IANS) Jewellery traders numbering over a thousand on Saturday stopped a train at Ghaziabad Junction protesting against the excise duty imposed on gold and diamond jewellery in union budget 2016.
The Jewellery Traders Association general secretary Ravi Verma said that the traders lay down before the Aligarh bound EMU train as it stopped at the station.
They lifted the siege only when senior police and railway officials assured them that they would convey their protest to the government.
Ravi Verma said that the government in its budget has imposed excise duty at one percent which will adversely affect the market.
When the market suffers from recession, any imposition would slow down the prospects of the market. This is the 26th day of the traders strike across the country.
The government has not only imposed unwanted excise duty but also made PAN card mandatory for buying jewellery worth over Rs.2 lakh. This will further affect the growth of the jewellery market, added Verma.