Should gold imports be halted till things get better

if outside gold doesnt come to India, wont we retain our savings and have higher surplus for investments.

Also, this will stop gold smuggling, hawala market & parallel economy.

Please share your views. If enough of us think so, perhaps PMO will give it serious thought. more  

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Gold import should be restricted to bare necessities. If prices sour, let it happen. This will result in sale of domestic held gold coming in market. It is very important to conserve our foreign exchange for other priority spendings like defence, health etc, more  
Stop promoting government control in a free market economy. It will make gold more expensive and will get black market started. This is what was once upon a time during socialist thinking India. more  
We need to understand that gold import is partially responsible for country's current account deficit . Hence, gold import needs to be done very cautiously on need based which is decided by the government and the central bank together. It is unfortunate that India has stock of approximately 24000 tones of gold mainly held by household and in absolute term it is $800 billion. It has significant impact in terms of economic value add, employment, contribution to foreign exchange earnings, and the trade balance. more  
Gold is an attractive metal and Indian have soft corner for that. Only now a days, chain snatching has made them cautious. more  
It will increase price further...grey channel should be avoided though it can save precious foreign exchange, but GST should be collected later...also we should be worried about loss of jobs....

On Wed, 04 Sep 2019 06:35:14 +0530 Sridhar Mohan wrote
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