Gold at a huge premium as imports dry up; survival of small jewellers at stake

This article illustrates the depravity and corruption of the Indian government, robbing its citizens the opportunity to protect their purchasing power caused by the government's debasement of its own  currency, the rupee.  The cover is that gold imports harm the government's ongoing current account deficit, which of course, is complete hogwash.

The current account deficit is caused by overconsumption and deficient exports, which by the way, is an identical characteristic of the US economy.  Gold is naturally flowing to wealth and prosperity--and away from the indebted and insolvent.

The Indian government's misguided attempt to thwart and overtax those natural flows will harm its own citizens, causing gold premiums and black markets to soar (by their own admission).

Meanwhile, the governments and citizens of Russia, China, and other Asian countries continue to hoard gold, respecting its growing monetary role.

One would think India has escaped British colonization many years ago. In fact, the Indian government is colon-izing its own citizens--in every sense.

http://articles.economictimes.indiatimes.com/2013-07-03/news/40352017_1_bombay-bullion-association-gold-imports-small-jewellers