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"Field officials have been alerted to keep a check on flyers and bullion traders. We will also seek help of Enforcement Directorate (ED) to check involvement of any hawala dealer in this," the official added.
The high demand of gold has been a matter of concern for Finance Ministry which is grappling to rein in Current Account Deficit (CAD), difference between the outflow and inflow of foreign currency. The CAD touched a historic high of USD 88.2 billion or 4.8 per cent of GDP in 2012-13 and was mainly attributed to high imports of petroleum products and gold.
India, the largest gold consumer in the world, has imported 830 tonnes of gold in 2012-13.