As usual car sales crashed by 15% this month also.
Govt is desperate to stop gold exports. The idiots who are deciding things in India are not still not understanding or acting too smart. The real reason is interest rate. We NEED TO RAISE INTEREST RATE BY ATLEAST 2-3 %. This will help reducing gold imports.Now govt it seems is openly encouraging gold smuggling by increasing import duty etc. They are not ready to increase rate and thus deciding to continue raping of common man who trusts our banking system.
'Ready to sell wife for a rate cut' lobby will be active from this week as RBI is going to meet shortly in 2 weeks to decide monetary policy. Poor Subbarao is going to pay for politicians and corporates greed.
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