UPSC Previous Year Question | Prelims GS | 2016

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.

  1. 1 only
  2. 2 and 3 only
  3. 1 and 3 only
  4. 1, 2 and 3

Answer

Correct Answer

1 and 3 only

Explanation

These schemes aim to mobilize idle household gold into the formal economy and reduce India's dependence on gold imports, making 1 and 3 correct; promoting FDI in gold/jewellery is not a stated purpose, making statement 2 incorrect.

Topics: banking, gold schemes, indian economy, sovereign gold bond scheme