BJP’s prime ministerial candidate Narendra Modi criticised the UPA Government’s gold policy while inaugurating India International Bullion Summit held at Mumbai on Saturday via video-conferencing. Modi said the gold which was traditionally revered in India is perceived as villain owing to faulty policies of the UPA Government.
Addressing the summit, which was organised under the aegis of Bombay Bullion Association, the Gujarat Chief Minister expressed concern over the adverse effects of gold import and pointed out that it would once again create the scene of 1968, when the Gold Control Act gave birth to mafias indulging in gold smuggling, narcotics drugs, weapons, bogus currency and terrorism.
Modi appealed the Bullion Association to raise voice against the Central Government’s gold policy. He suggested the Indian artisans should be encouraged for their skill of making gold jewellery. Their skills should be upgraded so that they can maintain their hold over the market of handmade gold jewellery, which has great demand in the world.
Time has ripened when all the Indian States should create their own Export Promotion Council to encourage export. Indian Government should also come up with a policy to give special incentives to the States making highest exports, he added.
“From centuries, the gold has never been merely a financial asset for the Indian society, it has been revered and considered auspicious,” said Modi adding that Ayurveda has also recognised the importance of gold in its formulas like suvarnabhusma and suvarnaprash. People buy gold when it comes to saving for future, be it for their daughter’s marriage or other difficult situations. It is only owing to the false policies of the Centre that the gold is seen as a problem instead of solution, he said.
“Congress’s policy for gold in past had ruined the lives of two generations of gold artisans. Ministers of present UPA Government keep adopting odd solutions for the problems of the country, only to intensify the problems. History suggests that the Governments which fail to feel the pulse of the social traditions cannot take right decisions,” said the Chief Minister.
Referring to a report of Reserve Bank study group Modi said the gold price has no connection with its demand among people. Hence levying duty on gold import would make gold dearer but it would not affect its demand. Our aim should be on the efforts of maximising the export of value-added gold jewellery, and on empowering the gold artisans.
He said that gold is the best investment for rural areas but the rural coverage of banks is quite less. The people have lost the trust on the Government policies and intentions, he said adding that rather taking pride on the ancient grandeurs of our country, which was once known as sone ki chidiya the Government harasses those who express their concerns over right issues.