Desperate to axe India's gold habit, govt mulls yellow metal-linked schemes to curb import

Gold import

In the 2011-12 fiscal, India's gold imports stood at USD 60 billion and the quantum of import was 1,067 tonnes.

A Finance Ministry official said the imports have shown signs of moderation and that gives the government hope that the CAD will be lower this fiscal.

In the April-June quarter of the current fiscal, however, gold imports had contracted by 18.4 per cent year-on-year to Rs 71,912 crore (USD 13 billion).

Gold imports into the country has risen considerably in the last three-four years.

Please read our terms of use before posting comments
TERMS OF USE: The views expressed in comments published on indianexpress.com are those of the comment writer's alone. They do not represent the views or opinions of The Indian Express Group or its staff. Comments are automatically posted live; however, indianexpress.com reserves the right to take it down at any time. We also reserve the right not to publish comments that are abusive, obscene, inflammatory, derogatory or defamatory.