The RBI Deputy Governor K.C. Chakrabarty’s solution to ease the current account situation is pretty naive (RBI asks people to shed craze for yellow metal, July 23). If the gods can be pleased with a 2-carat ornament, why not present gold-plated jewellery? Isn’t it naive to ask a religious person who wears a 22-carat gold ornament to offer a 2-carat gold ornament to the gods? To ease the current account deficit, the government must look at ways to boost exports and provide incentives for the same, instead of cutting down gold consumption.
- Ramesh Thuravil, Hyderabad (Deccan Chronicle)
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