The Indian government does not need to act as of now to further moderate gold imports as recent steps have already had considerable impact, Economic Affairs Secretary Arvind Mayaram said on Wednesday in the sidelines of an investor conference.
The government has recently raised import duties on gold to 8 per cent and the central bank has put curbs on gold financing by banks to put a brake on gold imports, which have been a key reason for India's wide current account deficit.
Mr. Mayaram also said the government was looking at issuing an overseas bond to raise capital for infrastructure. His comments come after the Finance Ministry's economic adviser Raghuram Rajan said on Tuesday that India was considering raising funds through debt targeted at non-resident Indians.
Copyright: Thomson Reuters 2013
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