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Government Reports Integration Flaws Led to Gold Import Overstatement

share-iconFriday, January 10 comment-icon3 weeks ago 10 views
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indiatimesINDIATIMES
Government Reports Integration Flaws Led to Gold Import Overstatement

Credited from: INDIATIMES

  • Integration issues of two platforms led to the double counting of gold and silver exports from SEZs.
  • This problem inflated gold imports by $5 billion in November.
  • The errors arose from the merging of the Indian Customs Electronic Gateway with the NSDL platform.
  • A government panel is now ensuring a robust data collection system to prevent future issues.
  • The commerce department stated that revisions for trade numbers are conducted periodically.

For the full article, visit Times of India.

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