Intelligence agencies to tighten noose around Pak drivers

[neehar]

And where do they get rupees from? Now unless it is fake currency, then it is an entirely different matter. But barring that possibility, they can get rupees only buying it from India and paying for that in dollars (or any tradeable tender), right?

Whenever a foreigner buys something from India, it brings in hard currency, not our own rupees. (Since only we can manufacture our rupees.) Maybe the driver and point sellers got rupees, but as long as those rupees came from our govt mints, an inflow of rupees if equivalent to an inflow of whatever they purchased the rupees with.

Why is it that we are happy to pay Iran for oil in rupees? Because they will buy something from us with those rupees, which they can't manufacture, only we can. Think of this as any other export item. We paid for it in dollars, and then a Pakistani paid us back. He may have paid rupees to the seller, but as long as it is real currency issued by the reserve bank of India, that has already been paid for in dollars.

As for losing customs duty, I'm pretty sure we only impose duty on gold imports, not exports. (Since we are a gold importer). Same with Pakistan. So if anybody loses customs duties with this transaction, it is the GoP. Pakistan could have levied duty on that gold if it was purchased on the world market, but when smuggled from India, they can't.

and are u sure that that is authentic indian currency??they have successfully counterfeited our currency in the past and this might be another attempt.or it is simply an attempt to fund their operations in india even if it is genuine rupees which rbi printed and from pakistan forex's official reserves we can not allow something like that to happen with out knowing its implications completely nobody knows what else they are smuggling.its too early to decide that this helps india we dont know the comlete picture .we cant compromise security over a few dollars.india is expected to import about 700 tonnes of gold this year and even if that amount is authentic how much gold can they smuggle out and how many dollars we get from that too not knowing the risks associated with it??

 

[janon]

and are u sure that that is authentic indian currency??they have successfully counterfeited our currency in the past and this might be another attempt.or it is simply an attempt to fund their operations in india even if it is genuine rupees which rbi printed and from pakistan forex's official reserves we can not allow something like that to happen with out knowing its implications completely nobody knows what else they are smuggling.its too early to decide that this helps india we dont know the comlete picture .we cant compromise security over a few dollars.india is expected to import about 700 tonnes of gold this year and even if that amount is authentic how much gold can they smuggle out and how many dollars we get from that too not knowing the risks associated with it??

Well I told you I'm aware of the fake currency issue, which is why I mentioned it. But I'm sure smugglers are smart enough not to take bad money. In their profession, they have to be careful. Anyway, barring that possibility, smuggling of gold from India to pak hurts pak, not India.

And to make a larger point, smuggling of harmless goods on a small scale is not that big a crime. In fact it may even stimulate economic activity and growth, when unnecessary restrictive policies of the govt suppress that. For instance, in the 80s, the only way for a middle class Indian to watch movies on VHS was to get a smuggled Japanese hitachi player, since foreign goods were banned by the govt.

So smuggling is not really a big crime against society. Smuggling of arms, fake currency etc is a different issue.

 

[neehar]

Well I told you I'm aware of the fake currency issue, which is why I mentioned it. But I'm sure smugglers are smart enough not to take bad money. In their profession, they have to be careful. Anyway, barring that possibility, smuggling of gold from India to pak hurts pak, not India.

And to make a larger point, smuggling of harmless goods on a small scale is not that big a crime. In fact it may even stimulate economic activity and growth, when unnecessary restrictive policies of the govt suppress that. For instance, in the 80s, the only way for a middle class Indian to watch movies on VHS was to get a smuggled Japanese hitachi player, since foreign goods were banned by the govt.

So smuggling is not really a big crime against society. Smuggling of arms, fake currency etc is a different issue.

are you seriously saying that govt must turn a blind eye to smuggling????????and as the intelligence agencies suspect this may not be a case of simple gold smuggling.who knows what else they are smuggling.we know its gold now because its caught.theres a bigger picture here.

 

[Shankranthi]

Here is a recent brilliant talk by NaMo on UPA's gold policy at bullion summit held a few days back.


Shri Modi addresses 1st IIB Summit, Mumbai via Video Conference

 

[Malik Usman]

What's there to laugh??

Our Punjab is facing huge drug problem and its all comes from pakistan.

And our Pakistan is facing huge terrorism problem whether its in the shape of some groups in TTP (Who are mostly criminals)...or BLA group in Balochinstan or MQM Target Killers... all those groups are getting weapons ,money and training from India.....

 

[forcetrip]

They also just caught 32kg of gold on an airplane. Not sure where I read it. Please feel free to stick a link.