Of India's Yellow Fever....

Finance Minister P. Chidambaram said that the government, facing a widening current account deficit, was considering moves to raise the cost of gold imports, hinting that import duty on the yellow metal may be raised.
The current account deficit or CAD, which represents the difference between export earnings and import expenses net of cash payments and remittances, hit a record high of 5.4% of the gross domestic product in the July-September quarter.
A hike in import duty on gold from the current 4% can result in higher prices and cool demand for its imports.
A widening CAD is worrying for a slowing economy, where fulfilling dollar payment obligations may necessitate dipping into foreign exchange reserves.
So far India has been able to finance its CAD without drawing on its $300 billion foreign exchange reserves — mainly due to $12.8 billion in foreign direct investment (FDI) and $6.2 billion in foreign institutional investment (FII), he said.