January 30, 2013 7:03 PM

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Govt looking at more steps to curb gold import: Chidambaram

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.

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