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The growth of crypto mining in Bhutan has brought its fair share of benefits and challenges
So far, hike in petrol prices and import duties on some consumer goods has not stoked inflation, but the rupee’s steep fall vis-a-vis the dollar in
The main culprit for the sharp rise in the current account deficit is the increase in gold imports and the hefty payment for oil imports. People are buying gold because they are apprehensive about the outlook on inflation. They think of gold as a reliable asset whose value has appreciated the most in the past few years.
It will prove beneficial in terms of growth and income for both countries to establish a federal reserve swap line
In the current and preceding years, the government has been trying everything to limit gold imports to control the current account deficit. Yet this commodity has one of the largest share in terms of exemption given. In 2012-13, the estimated amount of custom duty foregone for diamond and gold would be Rs 61,035 crore or 20.5% of the total revenue foregone.
The oil shock poses two risks for India. First, the fear that it will increase the current account deficit. Second, it poses a conundrum of navigating conflicting objectives — preserve the market-based retail oil price mechanism whilst graduating the price shock for consumers and containing inflation.
