Gold imports 528 tons worth Rs 1.12 lakh crore in April-September

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India imported over 528 tons of gold, worth Rs 1.12 lakh crore, between April-September this year, Minister of State for Finance Jayant Sinha has said.
In a written reply to a question in the Rajya Sabha, Sinha said in 2014-15 fiscal 915 tons of gold was imported which was worth Rs 2.10 lakh crore.
Gold imports 528 tons worth Rs 1.12 lakh crore in April-September
The highest volume of gold import was in 2012-13 when it was 1,013 tons, while it was brought down to 661 tons in 2013-14. Sinha further said gold exports in April-September of current fiscal were 76 tons.
In 2014-15, gold exports stood at 70 tons, against 72 tons in 2013-14 and 93 tons in 2012-13. Sinha further said forex reserves maintained by RBI includes 557.75 tons of gold valued at Rs 1.21 lakh crore (USD 19 billion) as on July 24, 2015.
“It is estimated that there are stocks of over 20,000 tons of gold in India,” Sinha said, adding the government has launched the gold monetisation scheme, sovereign gold bonds scheme and Indian gold coin.
Source: www.bullionbulletin.in

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