What are Gold Bond and Gold Monetisation schemes?

After the Cabinet meeting Finance Minister Arun Jaitley said it is safer and economically more stable to go under both these schemes.

By: PTI | New Delhi | Updated: September 9, 2015 6:21 pm

The Cabinet on Wednesday approved Gold Bond and Gold Monetisation schemes to reduce the metal’s demand in physical form and fish out idle gold lying with households and other entities.

After the Cabinet meeting Finance Minister Arun Jaitley said it is safer and economically more stable to go under both these schemes.

Read Also: Cabinet clears gold bond, monetisation schemes

He said around 1,000 tonnes of gold is imported annually and people hold such quantum of idle gold just for investment purpose every year. By taking advantage of gold monetisation scheme, people can deposit idle gold with authorised agencies and take advantage of the price escalation of gold as well as earn interest on the deposit, he said.

What is Gold Monetisation scheme

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Gold Bond

Gold Monetisation schemes, gold, gold bond, arun jaitley, latest news, black money, cabinet, cabinet news

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  1. R
    Ramudu
    Sep 9, 2015 at 7:57 pm
    Going by what I have read Capital Gains tax will there anyway and government is planning to introduce indexation benefit from Next Financial Year. Need more clarity on this. Moreover PAN is a must. Investing in Rs.5L RBI bond / 2 L in bank may bring the attention of IT for Tax Compliance. One may get a notice for not filing IT Return. All this need more clarity by TAX experts. Government can garner easy revenue, but poor house wives should not be hared by IT.
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    1. S
      Siddhu
      Sep 10, 2015 at 1:03 am
      I belive that huge player's will b effected.. Amount of gold held by housewife cant be compared with them... Some or the other will get hit of this... But its Good scheme for country like Bro dont think limited, think overall
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