Will the new gold scheme succeed? - Moneylife

Will the new gold scheme succeed? - Moneylife

My VIEW:

Read with the comments so far, fairly detailed analysis. This scheme or some other scheme or a combination of schemes and policy initiatives have to succeed in bringing to the mainstream economy of India a substantial portion of the GOLD HOARD, and sure this will happen. Public can, according to media report share their views on the draft scheme at http://www.mygov.in As one who has been relentlessly campaigning through LTTE(Letters To The Editor) and articles published including at this site and The Hindu Business Line(Gold management needs a makeover, April 12/13, 2012), I am hopeful of some positive results during the next 2 to 4 years. Now that a beginning has been made from the Government’s side, it is for the stakeholders to come together and make the scheme a success. Viewed independently, every hurdle will be insurmountable. But if there is consensus that at least 2 to 3 per cent of the estimated domestic gold stock should get accounted and made pure and tradable every year, further planning and policy initiatives will not be that difficult. 

M G Warrier Response to a reader posted on May 24, 2015: We need to win several wars during 'peace time'. WAR AGAINST POVERTY, WAR AGAINST CORRUPTION, WAR AGAINST INJUSTICE to cite a few examples. Win, we will! War is the product of greed and insanity. I agree, economies of some developed countries are dependent on sustaining the fear of war elsewhere. But somewhere change has to begin. For such a beginning, this is the right time and India is the right geographical area. M G Warrier

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