Q. Which of the following 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 code given below:
Answer: C
Notes:
Sovereign Gold Bond Scheme and Gold Monetization Scheme were launched by the Government in 2015.
The main objectives of these schemes are:
- To mobilize the gold held by households and institutions in the country. To provide a fillip to the gems and jewellery sector in the country by making gold available as raw material on loan from the banks
- To be able to reduce reliance on import of gold over time to meet the domestic demand.
- To promote FDI in gold and jewellery sector is not the objective of these schemes.
Source: TOI
