India's Two New Gold Schemes Could Narrow CAD: MacquarieMani
The Gold Monetization Scheme (GMS) and Sovereign Gold Bonds Scheme (GBS) approved by the Indian cabinet on Wednesday will help narrow the country’s overall current account deficit, according to Macquarie analysts. Tanvee Gupta Jain notes in her Sept. 10 research report titled “India Insight” that the latest announcements are intended to channelize savings and investments in gold into financial assets.
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