Why India needs a bullion bank

India’s affinity for gold is a well-known fact, so is India’s dependence on gold imports to meet domestic demand. More than 98 percent of the gold consumed in the country is met through import while the rest is met through recycleddomestic gold. In 2015-16, India imported 926 tonnes of gold. Ironically, despite this huge appetite…

Demonetisation and its outcomes

0N APRIL 11, finance minister Arun Jaitley informed the Rajya Sabha that ₹5,400 crore of undisclosed income had been detected since the November 8 announcement that demonetised 86 per cent of the currency in circulation. Critics will surely latch on to this rather measly figure to declare that demonetisation has palpably failed in expropriating owners…