Economy
2016
Government Schemes
Banking in India
What is/are the purpose/purposes of Government’s ‘Sovereign Gold Bond Scheme’ and ‘Gold Monetization Scheme’?
- To bring the idle gold lying with Indian households into the economy
- To promote FDI in the gold and jewellery sector
- To reduce India’s dependence on gold imports
Select the correct answer using the code given below.
B.2 and 3 only
D.1, 2 and 3
C.1 and 3 only
A.1 only
Correct Answer: Option C
The Sovereign Gold Bond Scheme and Gold Monetization Scheme have the following primary objectives:
- To bring idle gold held by Indian households into the economy.
- To reduce India’s dependence on gold imports by decreasing the physical demand for gold.
The schemes are not designed to promote Foreign Direct Investment (FDI) in the gold and jewellery sector.
Statement 1 is correct. Statement 2 is not correct. Statement 3 is correct.
Hence, only statements 1 and 3 are correct.
Sources:
More Economy Questions
Which one of the following is the main objective of the ‘Make in India’ initiative?Economy · 2015With reference to the Indian economy, "Collateral Borrowing and Lending Obligations" are the instrum...Economy · 2024In the context of any country, which one of the following would be considered as part of its social ...Economy · 2019Which one of the following is likely to be the most inflationary in its effects?Economy · 2021With reference to the Indian economy, consider the following statements:Economy · 2022