CAD - Increase in Duty rates of Gold is not the answer
AS the Government went on increasing the duty on Gold imports, the Current Account Deficit did not show any better health. Only smuggling has increased. Gold is landing by tons in all our ports while the Government is merrily transferring sincere and honest officers. Even in a remote airport like Vizag which became an international airport only recently, 1.5 kgs of gold was seized yesterday.
Are we back to pre 1991 days?