Three gold schemes (Gold Monetisation Scheme, Sovereign Gold Bonds Scheme and Indian gold coin & bullion) were launched today. Here is what FM Arun Jaitley said:
Three gold schemes (Gold Monetisation Scheme, Sovereign Gold Bonds Scheme and Indian gold coin & bullion) were launched today by Narendra Modi. The Gold Monetisation Scheme (GMS), 2015 will offer 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 first ever Indian gold coin & bullion, bearing national emblem Ashok Chakra on one side and Mahatma Gandhi’s image engraved on the other side was also unveiled. The Gold Monetisation Scheme will replace the existing Gold Deposit Scheme, 1999. Here is what FM Arun Jaitley said:
Arun Jaitley: Gold lying idle with individual can be a personal savings but it does not help in development of country.
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Arun Jaitley: Hope that citizen would take advantage of these three schemes.
Arun Jaitley: Import of gold will come down with the launch of sovereign gold bond scheme.