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Impact of Gold Imports on Trade Deficit

Dated:- 18-3-2015 - India s gold imports reached all time high levels of US$ 56.5 billion and US$ 53.8 billion respectively during 2011-12 and 2012-13, which led to higher trade deficit of US$ 183.4 billion and US$ 190.3 billion in 2011-12 and 2012-13 respectively. The rise in imports of gold was one of the factors contributing to India s high trade and current account deficit in 2011-12 and 2012-13. However, as a result of the various measures taken by the Government and Reserve Bank of India, .....

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y, including import of gold coins/dore into the country. During 2014-15 (April-January), trade deficit increased only marginally by US$ 1.8 billion to US$ 118.4 billion as against US$ 116.5 billion for the corresponding period of previous Year. The 80:20 scheme was withdrawn in November 2014. These measures have helped in reducing trade deficit and CAD in 2013-14 and subsequent quarters of 2014-15. As regards the oil prices, the monthly average crude oil prices (Indian basket) were trading at mo .....

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