Gold import up by 19.5%!
Posted on: 05/May/2015 2:20:32 PM - No. of views : (1491)
Gold imports during the last financial year has gone up by 19.5% as compared to previous year and touched Rs. 2,05 Lakh Crores!
A statistics from Central government�s department of commerce reveals that the reasons for this increase are because of the relaxation of restrictions on gold import and subsequent reduction in gold prices.
During the month of last March alone, gold import was double. Government informed that this led to immediate increase in the deficit.
It is worth noting that the deficit was closely monitored and kept in check; however, this has shown the trend of rising again. This is a cause for worry for the central government.
