|Gold is harming us and our country. India's estimated current account deficit is at $ 56 billion.|
"Utne peer pasarea jitne chadar hoe"
How would you plan your house hold budget? Isn't it always better to keep your household expenses lower than your earnings.
A country is also a big family. The government also prepares budget every year to make sure that the countries expenses remain lower than earnings, expenses include imports and earnings include exports.
'Deficit' means "the amount by which something, especially a sum of money, is too small."
The trade deficit occurs when imports of a country are higher than exports. India's trade deficit was Rs -279062 crore for April-June,2013. That means India spent Rs 279062 crore during April-June,2013. more than it earned in form of exports.
Where does it come from? What does a family do when it spends more than it earns? It either takes loans or it has to draw out of its earnings. This is exactly what a country also has to do.
High imports strain the Current Account Deficit (CAD), which hit a record 4.8 per cent of GDP in 2012-13. CAD is the excess of total imports of goods, services and transfers over exports.
|Gold - The BIG Reason behind Deficit|
|How much we are buying|
|How it is impacting our Economy|
|Gold as an Investment|
|What we can do|