The Economist on “Gold Craze” in India


The Economist summed up the reason behind the gold craze of an Indian individual saying: “At the individual level, then, the gold craze makes sense. But in aggregate it is a disaster for India. Imports of bullion impose a massive strain on its balance of payments—amounting to $54 billion in the year to March 2013.”Continue reading “The Economist on “Gold Craze” in India”