Monday, November 11, 2013

A new gold standard for imports

........The government should get the State Bank of India (SBI) (which is already familiar with the gold deposit scheme successfully targeting temples) to conceive and launch a visible and persuasive gold deposit scheme - with a catchy name and TV advertising - with a one- to three-year tenure for individuals. The government should define an annual cap of 200 tonnes for this scheme, to limit its effect on our current account deficit in the future since we will have to import later to pay these individuals back. As soon as we get.......

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