Gold duty hike tackles the symptom, not the cause

INDIA-GOLD-DUTY-HIKE-NOMURA-SHIPMENTS:Gold duty hike 'tackles the symptom, not the cause'
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Realasset
moneycontrol.com

Jan 22, 2013, 09.26 AM | Source: Reuters

Gold duty hike 'tackles the symptom, not the cause'

INDIA-GOLD-DUTY-HIKE-NOMURA-SHIPMENTS:Gold duty hike 'tackles the symptom, not the cause'

Like this story, share it with millions of investors on M3

Gold duty hike tackles the symptom, not the cause

INDIA-GOLD-DUTY-HIKE-NOMURA-SHIPMENTS:Gold duty hike 'tackles the symptom, not the cause'

Post Your Comments

Share Cancel

Reuters Market Eye - Nomura says India's hike in the gold import tax will only shift gold shipments to "unofficial channels".

"Therefore, in our view imposing import duty tackles the symptom, not the cause," Nomura says in a note.

India's gold imports likely to ease to $44 billion in fiscal 2014 from an estimated $48.3 billion in fiscal 2013 in value terms, marking a 0.2 percentage point drop, Nomura estimates.

Nomura says current account deficit could moderate to 4.3 percent of GDP in FY14 from an estimated 4.9 percent in FY13, "remaining above sustainable levels," due to high oil prices and continued domestic supply-side constraints that boost imports.

(Reporting by Subhadip Sircar)

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Gold duty hike tackles the symptom, not the cause

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login