India has maintained official policy that discourages its citizens from buying gold, according to a Mint report. The discussion centers on whether a different policy approach should replace that stance.
The report suggests letting Indians spend their gold instead. It argues India could enjoy a gold standard without asking the Reserve Bank of India to buy gold or peg the rupee to anything.
The proposed option is framed as a way to ease the country's rupee problems, according to the report. It places the policy choice in the hands of spending rather than official discouragement.
