Govt To Launch Gold Related Schemes On Eve Of Diwali

The Indian Government has said that it is planning to launch important gold-related schemes, including the Gold Monetisation to give a new direction to the economic development.

As per reports, besides the Gold Monetisation Scheme, the Government will also launch 'Sovereign Gold Bonds' and gold coins with Ashok Chakra.

Govt To Launch Gold Related Schemes On Eve Of Diwali
Commenting on the issue, Prime Minister Narendra Modi told the media, "In the last Budget, we had announced an important scheme. In our country, gold has become a part of our social life. Gold is treated as a means of economic security, a help during the time of crisis. It is traditionally believed so."

"I don't think anybody can reduce the love of people for gold. But to keep gold in the form of dead money does not augur well in this age. Gold can become strength, an economic strength. Gold can become the country's economic property and every Indian should contribute to this," he added.

As per reports, the Government is launching these schemes with a view to mobilise a part of 20,000 tonnes of idle gold lying with households and temples.

Read more about: narendra modi, gold
Story first published: Monday, October 26, 2015, 12:20 [IST]
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