So, the point is that why he does not apply the same logic in case of CRUDE OIL which is the highest import item in India and which is being used by both rich and poor?
The reasons are well known and why he choose Gold over Crude Oil. But there is something called vote bank, and the elections are near---those workers whose livelihood has been spoiled by this mindless act, will perhaps show their anger in ballot boxes all over India. Also, what will the smaller companies who do not have gold refining units like Shree Ganesh Jewellery House (I) Ltd do....? Fortunately, for Shree Ganesh Jewellery House (I) Ltd, their gold refinery unit in Domjur, West Bengal, has started production. The relaxations of import restrictions on DORE GOLD is for whom....? To give more business to the established players or to squeeze the margins of the smaller players....?]
Courtesy: The Business Standard