With this article, we are again creating unnecessary attention to the temple properties. Even it's not a good analysis. I think analysis has been written by a Gold Loan company with business motive. It seems that you are calculating how much grain, vegetables, milk & fruit you had eat throughout the life. Because you are going to club the temples & individual assets and no one has the right to take the decision on temples & individual assets except RBI which only can take some decision on temple assets that is also only for the safety & security of these assets.
Do not advertise your gold, you idiots! Better keep building deadliest of nuclear space hubs and nuclear submarines. Western vultures are watching you, just waiting for the right moment. An 'Indian spring' will be manufactured; then UN , NATO and everybody else will come to 'restore democracy' and to 'protect civilians', and your gold will be gone even before you know it.
Mr. V.P. Nandakumar, the executive chairman of Manappuram Finance is absolutely correct. You have to invest the money in growth-oriented industrial and manufacturing projects. Gold is usually a dead investment, and the price of gold over the last fifty years has not kept pace with the rise in real income per capita anywhere in world, particularly in India. Gold was priced at 1200 to 1500 rupees a sovereign (8 grams) in 1977 when Morarji Desai was prime minister. It is now about 20,000 rupees a sovereign, about 16 times as high in numerical value. The salaries of higher level company officials have jumped from seven to twenty thousand rupees a month to several lakhs and crores. Hence, gold is not a good investment in the long run.
Indians spend enormous amount of money on gold, but do not spend even a small fraction on nutritious food. The consequence is the Indians enjoy poor health and maintain their happiness by looking at their gold ornaments and evaluating their gold assets day after day.
In Developed countries like US & Europe, government provides better infrastructure and health benefit. they don't have to worry when they get Old so they don't believe in saving and spend whatever they earn, but in India we don't have that luxury and have to secure our own old age. So best way is to invest in Gold rather then investing in FD with Bank.
Re: Our situation is different and cannot be compared with US &a
by Varadarajan Ravindran on Dec 05, 2014 12:50 AM
Fixed deposits in banks are useless anywhere in the world. People must invest in good stocks and shares to hedge themselves against financial disasters.
This is not an essential commodity. Imports must be totally banned. Allow Gold import only for value addition and export atleast 80%.Levy duty only on the imported quantity for domestic use. Gold imported for export after value addition may be refunded the 90% of duty after export obligation is completed. The value addition should be minimum 35%.
I don't think Indians will agree with this proposal. Second if these gold will invest in global market, the immediate result will be gold price will reduced. Because no western country want to give that much amount to India. They will play with the gold price till we sold all the gold outside. Then again the gold price will raise when Indian will start import.
