首页>英语角 > 听力 > 美音 > 课 程 > 社会 > 博士>India's love for gold hurts economy
India's Love for Gold Hurts Economy

Indians love to buy gold and there is always a demand for gold jewelry. But remember: India barely produces any gold domestically, so it imports it. In fact India is the world’s largest importer of gold, which is mainly used to meet the demand in jewelry industry. Problem is the repay. It’s hovering at an old time low, versus the dollar. Since India pays for gold in dollars, gold imports would do a massive strain on the current account deficit, which rose to an alarming 4.8% of GDP in the last financial year. A current account deficit occurs when total impots are more than a country’s exports. To reduce imports, India’s finance minister double the tax on gold imports from 4% to 8% this year. The result: a dramatic decline of 81% in gold imports in the month of June. No doubt, India’s financial minister is pleased gold imports have come down, but you want customers to hold off a little longer. He recently said if the public can stop buying gold for another six months to a year, it would dramatically change the current account deficit, which in turn would lead to an improvement in the stock market, help the requit back on its feet, and leads to a backup business confidence. That could be easier said than done. The wedding and festival season is coming up and in India you can’t celebrate it either without gold. Marlika Kapo, CNN, Mumbai.

视频文本已隐藏,本文本来自网络或网友仅供参考
显示视频文本

Discuss

0 comments
characters remainingSubmit
反馈