...........Much to government’s relief, there has been a 77% drop in gold imports in value terms and 28% in volume terms during the quarter ended September 2013 on the back of several initiatives taken by the Reserve Bank of India (RBI). On the other hand, the fiscal situation is nothing to cheer about. The first five months alone have seen the government reach 74.6% of the fiscal deficit target for the entire year’s Budget Estimate (BE)..............
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