India is looking at some other steps to curb gold import which has led to widening of the Current Account Deficit (CAD).Finance Minister P Chidambaram has said, to check imports, the government last week hiked duty on gold to 6 per cent from 4 per cent.It also linked gold Exchange Traded Fund, ETF, schemes offered by mutual funds to gold deposit schemes of banks with a view to increase availability of physical gold in the market.In an interview to a foreign newspaper, the Minister said, linking the two schemes will unfreeze 15 to 20 tonnes of gold, idle gold, and bring it into the market which will moderate imports.
News On AIR | January 30, 2013 7:03 PM
Govt looking at more steps to curb gold import: Chidambaram