In the wake of the Chinese war, it was felt in some circles that it would be feasible to make a frontal attack on demand for gold in India. Accordingly, the Gold Control Order 1962 was issued, banning the making and selling of jewellery above 14 carats, making it compulsory for gold smiths to be licensed and submit accounts of all gold received and utilized by them etc., The measures met with lot of resistance and criticism.
Gold jewellery exports may decline by about 50 per cent in this financial year from last year after government restrictions reduced the availability of raw material, Gitanjali Gems Chairman and Managing Director Mehul Choksi said.
Providing relief to the economy from widening trade deficit on account of gold imports, the inward shipments of the metal slumped in December to 39 tonnes, Commerce Secretary Rajeev Kher said on Wednesday.
Staley watched Griner grow from a first-overall WNBA draft pick in 2013 to one of the dominant forces in the league and an American superstar who collected two World Cup golds on top of her Olympic titles.
Theft of gold from five packets had been reported to the police on January 16, 20, April 30.
India is the largest importer of gold after China.
Moving the resolution, Chief Minister Pinarayi Vijayan said the Centre should re-examine its decision and the operation and management of the airportbe handed over to the Special Purpose Vehicle in which the state government has stake.
'The entire idea behind the serial bomb blasts was to strike fear in the minds of Indians.' 'I don't think the blasts were targeted to derail the Indian economy; the idea behind the blasts was retribution.'
Prime Minister's Economic Advisory Council Chairman C Rangarajan dashes bullion firms' duty cut hopes.
The humiliating rebuff given to the power brokers in Delhi in Kerala's local body election carries a big message: Malayalis thoroughly disapprove of the Modi government's shenanigans to misuse central agencies to destabilise a genuinely popular state government, notes M K Bhadrakumar.
Any revision in gold import duty is unlikely to take place before the Budget, says finance ministry official.
Marriage season will end in the next two months and import growth is likely to taper off
Finance Minister must be hoping that Indians get over gold-addiction.
The scheme is yet to take off.
The Modi government's decision to demonetise Rs 500 and Rs 1,000 banknotes will drive up interest in the bullion market
Dealers with turnover of Rs 2 crore and above covered; industry says threshold too low
'India has about 22,000 tonnes of private gold, held by individuals and temples.' 'Much of this is locked up in safes and vaults as a dead investment. If we can put the vast reserves of gold to use, it would boost the economy,' says V P Nandakumar, executive chairman, Manappuram Finance, India's first listed gold loan company.
A lowdown on all the goings-on in the Malayalam film industry.
At 12-15 tonnes, the imports in September are estimated to be much lower than in the same month last year.
The World Gold Council, which represents the mining industry, puts India's demand between 850 and 950 tonnes in 2014.
'During Amit Shah's recent visit to Kerala, the strategy of concentrating the attacks on the CM on false charges was clear enough.'
'Tamil Nadu is a state of temples, it's a holy land. People don't seem to realise that.'
While the CPI-M in a statement after the secretariat on Friday maintained that Balakrishnan, who is also a Polit Bureau member, had sought leave for further treatment which had been accepted, the leader of opposition in the state assembly Ramesh Chennithala dubbed the move as a delayed dawning of wisdom.
Here's what is new in the Malayalam film industry.
The best way to curb gold demand is by reducing black money in circulation.
The commerce ministry has called a meeting on Monday to discuss tighter norms amid reports of increased round-tripping of gold
The Bharatiya Janata Party lined up several promises, including a legislation to protect traditions of the Ayyappa temple at Sabarimala and a law against "love jihad", while assuring employment for at least one person from each family and free laptops to high school students, in its manifesto for the assembly polls unveiled in Thiruvananthapuram on Wednesday.
'Our views are different on fundamental matters right from the question of citizenship, all the way up to what the character of the Government should be, how a democracy should function and whether investigation agencies should be allowed to function independently.'
Jewelers also want import duty on gold to be reduced from the current 10 per cent to at least 5 per cent.
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).
"On the sensitive issue of the huge price rise demanded by natural gas exploring companies in the Krishna-Godavari basin, Modi tried to be evasive but indicated that if required the price may have to be increased," says the interviewer, Dilip Gohil.
In Kerala, the use of black ranges from such convenience to strictures by community and religion to fashion and personal choice. One would have to be really insecure or too fond of the well settled life to see black solely as a badge of protest, points out Shyam G Menon.
If Kerala wants to sustain its room for independent thinking and talk back to Delhi when needed, it should put its finances in order. Or - if one takes the North East example - Kerala's political posturing may end up commensurate with its financial dependence on others, suggests Shyam G Menon.
By tying gold imports directly to export volumes, India is effectively trying to cap how much bullion can be brought into the country, tightening supplies and driving up local prices.
In a Facebook post, Jaleel himself confirmed that he had put in his papers. "I am happy to say that those who had been baying for my blood can be relieved for now. I have submitted my resignation to the chief minister. Since the past two years, I have been facing a media onslaught," Jaleel, second minister in the LDF ministry to resign on nepotism charges, said in the post.
One of the big takeaways from the recently released data on India's merchandise trade is that gold imports have, once again, skyrocketed.
The PFI, formed in 2006 in Kerala and headquartered in Delhi, called the raids a gimmick and an attempt to divert attention from the farmers' issue.
Since trading in virtual currencies is not illegal, they traded in cash or through barter in some instances.
A Russian court on Tuesday dismissed US WNBA basketball star Brittney Griner's appeal against a nine-year sentence for possessing and smuggling vape cartridges containing cannabis oil, paving the way for her to be sent to a penal colony, in a court case that Washington has called "sham".
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