The government may take more steps if needed to curb gold inflows into the country, a senior finance ministry official said on Thursday.
Rajiv Takru, financial services secretary, said that India could not afford the current levels
of forex spending on gold imports, terming it as "wasteful expenditure," in comments to reporters at a banking conference in Mumbai.
The comments come a day after India increased import duty on gold by a third to 8 per cent and after the central bank acted earlier this week to force domestic jewellers to buy only on a cash basis.
Source:
© Copyright 2024 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
Rajiv Takru, financial services secretary, said that India could not afford the current levels