Gold Management

T V Gopalakrishnan We are having very heated discussions these days about the exchange rate fluctuations and rapid fall in the value of rupee in terms of dollar in particular.However ,the question is when India has known and unknown reserves of plenty of Gold , why not it encash the gold reserves and use it for oil imports or create a separate fund viz Exchange rate equalisation fund exclusively to meet the oil demand and fight the dollar increase . India has good exports and plenty of inward remittances coupled with opportunities to multiply tourists flows from all over the world . I presume there needs to be lot of thinking and action to fight the US dollar with our resources potential . This is the ideal time to think of the Gold bank under the auspices of the RBI and turn the attention of the world bullion market to India and encash the opportunities to take a lead to find resources to develop the economy and make the the dream of becoming a 5 trillion economy a reality . The revival of Gold mines is a welcome and sensitive approach and the setting up of AGold Bank would change the economic outlook a lot better bringing all round benefits to the Government economy and the people . Dr T V G

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