(Image source from: India odiously to ban gold imports!})
A senior finance ministry official said on Thursday that India would be objectionably to ban gold imports or strengthen import taxes on the metal further since because that may show the way towards more gold smuggling. The official added that the government has limited options to stall a record decline in the rupee.
The rupee has declined to 59.9350 to the dollar, a day subsequent to the US Federal Reserve Chairman Ben Bernanke confirmed the Fed would commence winding down its stimulus spending later this year, at the same time data revealed China's factory activity reduced to a nine-month low in June.
(AW:Samrat Biswas)
