Government Mobilizes 3.1 Tonnes of Gold under Monetization Scheme
by Press Trust of India
GATA.org
NEW DELHI — Government today said it has netted 3.1 tonnes of idle household and temple gold under the monetization scheme since its launch in November 2015.
“As of now 3.1 tonnes of gold have been deposited under the Gold Monetization Scheme,” the joint secretary in the Finance Ministry, Saurabh Garg, said.
This is much lower than 800-1,000 tonnes of annual gold imports, he said, adding that estimates say 300 tonnes are for investments, while the balance is jewellery.