No duty rollback, RBI to issue inflation indexed bonds: Mayaram

Despite a sharp correction in bullion prices, the Finance Ministry says there is still no case of a rollback in the import duty hike. In an exclusive interview with NDTV, Economic Affairs Secretary Dr Arvind Mayaram has reiterated the government's stance to wean people away from gold, and that the apex bank will soon announce inflation indexed bonds for retail savers. “We would still want to incentivise savings into productive instruments rather than gold. So I don't see any reason at this moment for any review of the duty,” says Dr Mayaram.