Slash exorbitant gold import duty

Sometimes, even a crash can be a good thing. India's current account deficit (CAD) has fallen to $5.2 billion, or a mere 1.2% of GDP in the second, July-September, quarter, from the 5% level in the same quarter last year and 4.9% of GDP in Q1 this year. Exports have soared, backed by a weak rupee and stronger demand in the West. Imports have fallen, led primarily by gold. This is a welcome fall.

Read Full Story>>