Gold loans help Aam Aadmi
Gold imports in 2011-12 were almost 2% of GDP and 9% of all imports. Economists blame gold for bloating the current account deficit to dangerous levels. Puritans moan about the import of unproductive, speculative gold. Some want stiff measures to curb lending against gold, thus reducing gold's attractions. Much of this tirade against gold is simply wrong. In a free society, people should have the right to buy what they choose.
Read Full Story>>