..........“I would have been happier if we had the current account deficit (CAD) that we have without significant curbs on anything, including gold. I think that is our aim. I think, we should aim to have a sustainable CAD without any distortions, like removing incentives for smuggling of gold [the 10 per cent import duty on the yellow metal has led to a spike in gold smuggling],” said Dr. Rajan. He was addressing a press conference to announce the RBI’s third mid-quarter review of monetary policy.......
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