The Gold (Control) Act, 1968 is a repealed Act of the Parliament of India which was enacted to control the sale and holding of gold in personal possession. High demand for gold in India with negligible indigenous production results in gold imports, leading to drastic devaluation of the Indian rupee and depletion of foreign exchange reserves to alarming levels.
The Gold (Control) Act, 1968 is a repealed Act of the Parliament of India which was enacted to control the sale and holding of gold in personal possession. High demand for gold in India with negligible indigenous production results in gold imports, leading to drastic devaluation of the Indian rupee and depletion of foreign exchange reserves to alarming levels.
Source: Wikipedia "Gold (Control) Act, 1968" · CC BY-SA 4.0
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