A well summarized write up on the economy with a solid conclusion and
suggestion to the Government to act. Fortunately for the Government,
some of the macro economic factors are in favor and it cannot miss the
opportunity to encash them and take the economy forward by putting into
practice minimum Government and maximum Governance. Imports of gold if
banned will improve the trade deficit and fiscal deficit can be easily
managed if the gold available in the system is brought to banks books
and made productive. The sources of black money VIZ real estate deals.
transactions in commodities like gold, silver and other high value
commodities, imports, exports, remittances both inward and outward can
be easily tracked through appropriate policy and improved Governance
standards with accountability, incentives and punishment. Inflation
needs close monitoring and supply side and cost push factors need to be
addressed to keep it at an acceptable level. Time to take action and
go forward.
(This comment appeared in Business Line dated 1/1/2015 in response to the editorial on Happy New Year)
1 comment:
Well said...Has covered very significant action points. The observation on using domestic gold stock deserves immediate attention from policy makers
M G Warrier, Thiruvananthapuram
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