Govt to track use of unaccounted funds for gold imports

One of the big worries facing the Indian economy has been the surge in gold imports. The government has taken a lot of steps to curb gold imports.

The latest in that series is the plan to crackdown on unaccounted money being used for gold imports. Finance ministry sources suggested to CNBC-TV18 that the ministry has asked the department of revenue to trace importers importing large quantities of gold. It has also instructed the tax department to trace how these gold purchases are being finance. The latest initiative is a plan to crackdown on unaccounted money being used for this. Finance ministry sources tell CNBC-TV18 that the ministry has asked the department of revenue to trace importers importing large quantities of gold. It has also instructed the tax department to trace how these gold purchases are being financed.