Hyderabad: Women question limits set on gold

Hyderabad: Single women were upset that their married women could hold more gold than them, according to the rules re-stated by the Centre on Thursday.

Ms Sonal Agarwal, an entrepreneur, said, “The quantum of gold should  not be tagged with marriage. It is because the unmarried woman needs more security.”

She said since she was not married, she set aside more towards savings in mutual funds and gold. “Gold is the strongest investment for many, it is also because of personal preferences. I love to spend more on gold than on property, I would rather have a necklace than a piece of land.”

“How can limits be set on gold,” said Ms Lumin Jain, an entrepreneur. Gold is the favourite investment of married women, she said.

“What about families that have stocked up jewellery for their unmarried daughters,” she asked.

Gold has traditionally been a major investment for Telugu speaking families. Many marriages are decided on the quantum of gold offered by the girls family.

Gold that is inherited or bought with declared wealth will not be taxed, the finance ministry said in a statement. “Legitimate holding of jewellery up to any extent is protected,” it clarified. “There is no limit on holding of gold jewellery or ornaments by anybody provided it is acquired from explained sources of income, including inheritance.”