PM Modi's call to cut gold purchases & 15% tax change India's import numbers

Modi’s renewed call to curb gold purchases comes as the government seeks to reduce India’s gold import bill and put some of the estimated 31,000 tonnes of household-held gold into circulation. Gold imports fell each month after a similar appeal in May — by nearly 4% in May, 20% in June, 23.7% in July and nearly 30% in August.