Chidambaram: more steps to cut gold imports if needed

NEW DELHI Tue May 21, 2013 7:10am IST

Britain's Finance Minister George Osborne (2nd L) and his Indian counterpart, Palaniappan Chidambaram (R), visit the Pudding Mill Lane Crossrail construction site, in east London May 16, 2013. REUTERS/Lefteris Pitarakis/pool

Britain's Finance Minister George Osborne (2nd L) and his Indian counterpart, Palaniappan Chidambaram (R), visit the Pudding Mill Lane Crossrail construction site, in east London May 16, 2013.

Credit: Reuters/Lefteris Pitarakis/pool

Related Topics

NEW DELHI (Reuters) - India will take more steps if necessary to curb gold imports, Finance Minister P. Chidambaram said on Monday, after the country's overseas purchases of gold and silver shot up 138 percent in April.

The spike in gold imports has increased pressure on the country's trade and current account deficits, and limited the scope for monetary easing by the Reserve Bank of India (RBI), despite a recent slowdown in inflation.

(Reporting by Rajesh Kumar Singh; Writing by Matthias Williams; Editing by Devidutta Tripathy)

FILED UNDER:

Religion and Politics

REUTERS SHOWCASE

Fund Raising

Fund Raising

Flipkart raises $700 million in fresh funding.   Full Article 

Reforms Push

Reforms Push

Modi may order insurance, coal reforms if vote delayed - officials.  Full Article 

Reuters Exclusive

Reuters Exclusive

India looks to sway Americans with nuclear power insurance plan  Full Article 

To Boost Growth

To Boost Growth

Crank up public spending to revive growth - chief economic adviser.   Full Article 

Bold Steps

Bold Steps

SpiceJet rescue plan marks bold bet on Indian aviation recovery.   Full Article 

New Airline

New Airline

Tata, Singapore Air venture Vistara to take off on Jan 9.  Full Article 

Online Sales

Online Sales

Knock knock. Who's there? Amazon's best-selling holiday author.  Full Article 

Hacking Attack

Hacking Attack

N.Korea says did not hack Sony, wants joint probe with U.S.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage