Friday, May 3, 2013

To a Parliamentarian

Your lost post is June 1 2012, It takes around one year after last article. I would like to bring your attention to certain matters , as a policy maker, thinker and a media figure you can do a lot for socio economic enhancement.
The country is saddled with a yawning current account deficit (CAD), CAD touched an eye-popping $33bn (£22bn) in the quarter ending December 2012, reaching a historical record level of 6.7% of gross domestic product (GDP).
Oil accounts for 30% of India's import bill, but the country produces only 25% of its domestic requirement.
Demand for oil continues to rise in a growing economy with annual imports rising by 10% but domestic production up by only 2% over the last seven years.
India consumes a quarter of the global gold demand of 4,000 tonnes, and spends about 12% of its import bill on the metal.
Despite a doubling of import duty on the metal recently, the purchase of gold continues unabated: India imported a whopping 850 tonnes of the yellow metal in 2012.

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