Few of my images from an interview cum panel discussion on a special show named “Sone pe Zanjeeer” aired on CNBC Awaaz on 27th October. It was a special story covering gold, its side effects and alternate ways of reducing fiscal deficit rather than levying high import duty on gold.
It was my call that the government must introduce gold bond schemes in the market. This is the best way to get the household gold into the market. This gold in turn will be borrowed and lent. This will in turn balance the economy.
In 2010, 1006 tonnes of gold were imported where this figure dropped to 933.4 tonnes in 2011.
Levying import duty on gold will surely reduce imports and balance the deficit but it will also encourage illegal channels of getting gold into India. Hence the government should execute other alternative modes like gold bonds etc rather than levying high import duties on gold.
It was my call that the government must introduce gold bond schemes in the market. This is the best way to get the household gold into the market. This gold in turn will be borrowed and lent. This will in turn balance the economy.
In 2010, 1006 tonnes of gold were imported where this figure dropped to 933.4 tonnes in 2011.
Levying import duty on gold will surely reduce imports and balance the deficit but it will also encourage illegal channels of getting gold into India. Hence the government should execute other alternative modes like gold bonds etc rather than levying high import duties on gold.
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