Economic Affairs Secretary Arvind Mayaram has said that restrictions on gold imports are likely to continue until March-end despite an improvement in the current account deficit. Mr. Mayaram said that the need is to keep the current account deficit low, as it affects the rupee. Asked if the restrictions had led to smuggling, the Economic Affairs Secretary said, there was no conclusive evidence to support the argument. But he added that there is a need to increase vigilance and surveillance to check any rise in smuggling. Gold imports fell to 19.3 tonnes in November from a high of 162 tonnes in May, after a series of curbs by both the government and the Reserve Bank of India.
News On AIR | January 7, 2014 6:59 PM
Gold import restrictions likely to continue till March end