Indian Money Industry: Control On Trade Of Gold
The growing imbalance between import-export due to the current account deficit reached the dangerous level, Finance Minister p Chidambaram now for oil and gas production and to limit the import of gold-silver are insisting on Finance Minister believes that by doing so are unnecessary burden on Government coffers low. as well as currency rate also can be made stable.
Ministry of finance-related parliamentary Advisory Committee addressing the meeting of the Finance Minister, said the Government in current account deficit and its financing of the [CAD] both the current account deficit concerns only grow because major. oil & gas, coal and gold, rising dependence on imports for the imports by limiting the current account deficit may be prevented from accessing dangerous levels.
By the way, government financing of CAD to increase the flow of foreign direct investment [FDI] is trying to Finance Minister told the Parliamentary Committee of FDI in many areas. but instead economic climate now these sanctions meaningless. therefore, FDI in several areas of the Central Government, or you finish them completely.