ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
-A A +A

How the Gold Import Chickens Have Come Home to Roost

India's staggering gold import burden is to a large extent the result of liberal policies adopted towards the metal by the government in the post-reform years. Given Indian society's insatiable hunger for gold and that nearly all of it has to come in through imports paid for by savings that now cannot be used for productive purposes, these were bound to hit the wall sooner or later. Though stopping people from buying gold is not going to happen, public policies have to discourage gold purchases through the promotion of financial products, fiscal measures, and administrative controls.



Subscribers please login to access full text of the article.

New 3 Month Subscription
to Digital Archives at

649for India

$20for overseas users

Get instant access to the complete EPW archives

Subscribe now

Comments

(-) Hide

EPW looks forward to your comments. Please note that comments are moderated as per our comments policy. They may take some time to appear. A comment, if suitable, may be selected for publication in the Letters pages of EPW.

Back to Top