Gold demand in India -- one of most avid purchasers -- is interwoven with culture, tradition, the desire for beauty and the desire for financial protection.
In an interview to Business Standard, Rangarajan says CAD will be brought under control at around two per cent of the gross domestic product.
Gold demand in rural India is expected to be lower this year with weak monsoon affecting household savings, according to the World Gold Council (WGC).
The World Gold Council, which represents the mining industry, puts India's demand between 850 and 950 tonnes in 2014.
Based on the estimate, a courier bringing in 1 kg of gold currently worth around $40,000 at world prices could earn $470 if not caught.
The best way to curb gold demand is by reducing black money in circulation.
Gold demand in India is expected to be robust in 2014, likely leading to a further jump in smuggling if curbs on bullion imports remain, the World Gold Council (WGC) said.
Gold has held up better than many expected.
India's biggest jewellers' association has asked members to stop selling gold bars and coins.
World Championship gold-medallist para shuttler Manasi Joshi has strongly criticised former Indian cricketers Harbhajan Singh and Suresh Raina for allegedly mocking people with disabilities.
This Women's Day Week, we celebrate the groundbreaking achievements of Justice Anna Chandy, Justice M Fathima Beevi and Justice Leila Seth.
India has 20,000 tonnes of idle gold; gold is an important aspect of women empowerment: PM.
Recycling in India fell by 22 per cent to 14 tonnes against 18 tonnes.
Gold is currently ruling at Rs 30,050 per 10 grams.
'Customers flocked to purchase gold in large numbers during the event.'
In the past 18 months, the department of revenue intelligence has seized 50 containers of cigarettes, valued at nearly Rs 200 crore
Despite the recent imposition of import rule and high duties, the yellow metal continues to attract buyers.
Indian shooting legend Abhinav Bindra has been awarded with Olympic Order by the International Olympic Committee (IOC) for his outstanding services to the Olympic movement
The government has also built in mechanism to protect investors from price fluctuation.
'It was tough financially for the first few years but my friends and family supported me and once he did well at the 2018 Commonwealth Games, there was no looking back.'
Terminal 3 of Delhi's Indira Gandhi International Airport has become the world's first and also the largest terminal building to be conferred the prestigious 'Leadership in Energy and Environmental Design New Construction' (LEED NC) gold rating.
Indian badminton stars Satwiksairaj Rankireddy and Chirag Shetty were on Tuesday nominated for the Player Year of the Award by the Badminton World Federation (BWF).
India's widening current account deficit (CAD), driven by the massive spike in commodity prices led by crude oil, is set to put pressure on the fragile recovery, warns a brokerage report that has revised upwards its CAD forecast to $45 billion or 1.4 per cent of GDP by March. According to a report by British brokerage Barclays, the worries arise from the fact that the trade deficit has been jumping continuously since July. From an average monthly trade deficit of $12 billion till June, it has jumped to $16.8 billion in July-October, with September showing the highest-ever trade deficit on record at $22.6 billion, the report said.
Snapping the two months slide, the country's merchandise exports rose marginally by 0.5 per cent to $34.58 billion in September while trade deficit narrowed to $20.78 billion. According to official data released on Wednesday, imports increased by 1.6 per cent to $55.36 billion in September compared to $54.49 billion in the year-ago period. The trade deficit, or the gap between imports and exports, was $20.8 billion during the same month last year.
The two leaders had a complex relationship yet formed a partnership and even after their parting of ways, the two admired each other in their efforts for India's freedom.
Indian exporters are said to be exporting gold jewellery with minimum value addition to get a higher gold import quota for domestic market after imports linked to exports under the 80:20 rule.
Gold loan companies offer loans to financially-excluded customers and MSMEs by enabling them to monetise their gold without the need for documentary proof of income
They are now scaling or shutting down their businesses because they can't compete with untaxed grey market gold. India's gold smuggling has increased significantly since the import duty was increased in the Union Budget 2019 in contravention with the broader market expectations of a cut.
What do the fluctuating gold-silver price ratio portend?
On the last day of the competition, Yash Vardhan and Shreya Agrawal bagged three gold medals each.
But Morgan turned the match on its head as he got a wicket from each off his six deliveries to bowl out Surfers Paradise for 174. Five batsmen were out for golden ducks.
The concept of gold as an asset capable of getting anytime money is evaporating.
It's a downfall for the powerhouse that produced some iconic names such as PT Usha, Shiny Wilson, Anju Bobby George, Rosa Kutty, Mercy Kuttan and Bobby Aloysius among others."
Led by Olympic champion Neeraj Chopra, India will seek to showcase its ascendency as a sporting power at the Asian Games, which opens formally on Saturday after an unprecedented one-year delay due to the COVID-19 pandemic.
After being overlooked for the India T20I captaincy, Hardik Pandya's leadership future at Mumbai Indians looks to be on shaky ground.
Australia have until Oct. 15 to make changes to their 15-man squad
Australia beat India by nine runs to win the Commonwealth Games women's T20 cricket gold medal on Sunday but the real winner was the sport which delivered compelling competition and boosted its case to be included in the Olympics.
Pre-Diwali Dhanteras sales of gold and silver witnessed a tepid response from consumers on Thursday on account of high prices of the precious metals and sluggish demand due to COVID-19 induced economic hardship, according to jewellers and industry experts. However, jewellers are expecting maximum footfalls on Friday as Dhanteras -- considered the most auspicious day in Hindu calendar for buying items, ranging from precious metals like gold and silver to utensils -- is being celebrated for two days this year.
The T20 showpiece is also seen as a major stepping stone to the 2028 Los Angeles Olympics, where cricket will make a comeback after 128 years when the big event kicks off on June 1.
Industry estimates over 30 tonnes of gold were sold on Akshaya Tritiya this time.
