What is/are the purpose/purposes of Government’s ‘Sovereign Gold Bond Scheme’ and ‘Gold Monetization Scheme’? 1. To bring the idle gold lying with Indian households into the economy 2. To promote FDI in the gold and jewellery sector 3. To reduce India’s dependence on gold imports Select the correct answer using the codes given below:

Question

What is/are the purpose/purposes of Government&rsquo;s &lsquo;Sovereign Gold Bond Scheme&rsquo; and &lsquo;Gold Monetization Scheme&rsquo;? 1. To bring the idle gold lying with Indian households into the economy 2. To promote FDI in the gold and jewellery sector 3. To reduce India&rsquo;s dependence on gold imports Select the correct answer using the codes given below:

CollectorBabu · Accepted Answer

Correct Answer: 1 and 3 only. ● The purposes of Government&rsquo;s &lsquo;Sovereign Gold Bond Scheme&rsquo; and &lsquo;Gold Monetization Scheme&rsquo; are to reduce India&rsquo;s gold imports and bring all the gold lying idle with individuals and households in India into the economy. ● The Gold Monetisation Scheme (GMS), 2015 offers option to resident Indians to deposit their precious metal and earn an interest of up to 2.5 per cent; while under the Sovereign Gold Bonds Scheme, investors can earn an interest rate of 2.75 per cent per annum by buying paper bonds. ● The schemes do not aim to promote FDI in the gold and jewellery sector.

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