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 code given below.
- A. 1 only
- B. 2 and 3 only
- C. 1 and 3 only
- D. 1, 2 and 3
Answer: C
Explanation
The government had launched three ambitious schemes to reduce the physical demand for gold and fish out 20,000 tonnes of the precious metal worth $800 billion lying idle with households. PM launched the maiden sovereign gold bond, gold monetisation and the Indian gold coin scheme. The main objectives of the schemes is to reduce India’s gold imports and bring all the gold lying idle with individuals and households.