Zeebiz.com
Mumbai, June 16: Worried over flow of savings for investment in gold, Finance Minister Pranab Mukherjee on Saturday said there is a need to spread financial literacy to encourage people to invest in market instruments.
Pointing out that India's gold import surged to USD 60-62 billion in last fiscal, the Minister regretted that people are investing in gold with the expectation that the value of their investment would appreciate.
''Quantum of import of gold ... Is a clear indication (that) large section of community...Want (to) investment in dead asset only with expectation that value would appreciate'', he said while speaking at Zee television award function.