Your Gold will glitter from today: Government to launch Gold Monetization Scheme

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| Wednesday, September 9, 2015 - 17:19
First Published |
Gold Monetization to be launched soon

Delhi: Finance Minister Arun Jaitley on Wednesday briefed the Cabinet on their decision to launch Gold Monetization Scheme which will reduce dependence on imports.

The Gold Monetization Scheme after being approved is sure to bring positive impact. Some reforms have also been suggested which are going to be implemented soon.

REFORMS:

  • Raises DA by 6%
  • Cut current account deficit
  • RBI would issue gold bonds- can’t buy more than 500g of bonds
  • Depositors to earn interest on Gold Accounts, which will be decided by Government from time to time, keeping the market rate in view
  • Spectrum sharing, trading approved

IMPACT:

  • Jump in gold supply
  • Cut in gold imports
  • Major easing of CAD

 

 

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