Read in the Washington Post: India struggles to balance its books as citizens lust for gold
OK, so the title isn't exactly right. What is basically says that because Indians spend a lot on gold, they don't put nearly enough in savings, instead demanding ever-increasing quantities of gold. Which of course screws up the current account deficit.
I wonder how much of this is due to Keralites. Rather a lot, I'd wager. Mallus beat the rest of India hands down in purchasing gold...
