GOVT MUST RAISE TARIFF ON GOLD IMPORT
TIGHTER RULES TO REIN IN SMUGGLERS
2013-01-04 13:13
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Chakravarthy Rangarajan, who authored the official report recommending gold decontrol 25 years ago at the instance of the Rajiv Gandhi government and was amply rewarded ever since, appears to be a much disturbed person these days. His report led to the abolition of the Gold Control Act of 1962 and helped this poor country indulge in a big luxury of importing larger and larger quantities of gold year after year until it had worn the uncomfortable crown of being the world’s largest gold importer since 2010 with an all-time record volume of 1,006.3 tonnes as per the World Gold Council data.