The measures taken by the Central Government and Reserve Bank of India to contain gold imports by raising import duty on the yellow metal and other related measures are showing results with a decline in imports of this precious metal.
Prime Minister’s key economic advisor C Rangarajan said on Friday that India’s gold imports are likely to come down to $38 billion from $53.8 billion this fiscal despite some demand pick up during the forthcoming festival season.
Mr. Rangarajan further said India really needed to ensure that the declining trend in gold import is maintained in the future as well.
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