The article highlights the benefits that Indian Economy can derive from the recessionary trends witnessed in US and Europe. The fact that prices of all commodities except Gold have been on the decline and India is favourably placed to import goods, particularly oil, and improve its economy has been well brought out by the author. It is the best opportunity to attract funds for developing our economy provided the Government finds time and concentrates on the management of the economy. Gold stocks are available in plenty in India and the economy should know how to encash the gold and divert the resources for infrastructure development. It is time to think of a National Gold Bank and mobilise gold holdings of families and institutions and convert the assets into cash for economic development. Opportunities now available should not be lost sight of. By the time, the international scenario changes, India can build its economy strong and become the super-economic power early.
from: Dr.T.V.Gopalakrishnan
Posted on: Aug 25, 2011 at 02:31 IST
(This appeared in The Hindu Business Line)
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