“It will be pragmatic to roll back custom duty on gold. The
problem that had led to an increase in duty, that is the widening current
account deficit (CAD), is behind us with CAD improving. Also, gold bonds are
fairly successful. India has rolled back other controls since 2013. As a
corollary, the high duty burden should also be reduced.” –
Madan Sabnavis,
Chief Economist, Credit Analysis & Research Ltd
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