| Date: |
21-05-2013 |
| Subject: |
Chidambaram Says India May Take More Steps to Curb Gold Imports |
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Finance Minister Palaniappan Chidambaram comments on gold imports and India’s credit rating. He spoke to reporters in New Delhi today.
“At our instance, the Reserve Bank of India has now instructed banks they should not import gold or offer gold except to jewelers for export. Some more steps, if necessary, will have to be taken.”
On credit ratings:
“Standard & Poor’s discussed the matter with the Ministry of Finance officials. They have not changed their position. They’ve not made the rating any worse.
They’ve not made the outlook any worse. Our case is that we deserve an upgrade, both on the outlook and the rating. Standard & Poor’s may not have been convinced about that, but the fact is that they’ve simply maintained their rating and their outlook.
There’s nothing to worry. Our macroeconomic position today is much better than what it was in August 2012.”
Source : businessweek.com
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