Let a thousand Keynes be born on the planet, there’s little that could be done to stop human beings from chasing gold. That the lords of finance - central bankers - who print currencies are displaying faith in the yellow metal is a reflection of the enduring belief in it to be a saviour during crises. But it comes with a flip side. While it could save the smart ones in crisis, for others it could trigger one. Usually, the Indian investor and the
Under the lens
Is gold import returning to haunt government?
Synopsis
It is prudent for the state to reduce its fiscal deficit, but scrapping a savings product designed to address macro imbalances brings its own costs. There has to be an evaluation of the costs of a weaker exchange rate on the economy and the exchequer, and the benefits of savings.
Refer & Earn
ET
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