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Financial Times [3] terms a double-digit percentage fall in the stock markets over five minutes as a crash, while Jayadev et al. describe a stock market crash in India as a "fall in the NIFTY of more than 10% within a span of 20 days" or "difference of more than 10% between the high on a day and the low on the next trading day" or "decline in ...
The Gold (Control) Act, 1968 is a repealed Act of the Parliament of India which was enacted to control sale and holding of gold in personal possession. High demand for gold in India with negligible indigenous production results in gold imports, leading to drastic devaluation of the Indian rupee and depletion of foreign exchange reserves to alarming levels.
The news of the government pledging the entire gold reserves against the loan outraged national sentiments and caused a public outcry. [18] [24] The gold was transported to London via a chartered plane from May 21 to May 31, 1991. [18] The Chandra Shekhar government, which authorised the airlift, collapsed a few months later. [18]
Gold prices (US$ per troy ounce), in nominal US$ and inflation adjusted US$ from 1914 onward. Price of gold 1915–2022 Gold price history in 1960–2014 Gold price per gram between Jan 1971 and Jan 2012. The graph shows nominal price in US dollars, the price in 1971 and 2011 US dollars.
On the eve of the First World War, India was the British Empire's single largest market with its exports to India at ₹730 million making up over one-sixth of the country's total exports. [7] During the annual fiscal year 1928–29, the total revenue for the Government of India was ₹1,548 million. [8]
India experienced deindustrialisation and cessation of various craft industries under British rule, [12] which along with fast economic and population growth in the Western world, resulted in India's share of the world economy declining from 24.4% in 1700 to 4.2% in 1950, [13] and its share of global industrial output declining from 25% in 1750 ...
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