The Gold Monetization Scheme (Gold Monetization Scheme) is a scheme of the Government of India which was announced in the 2015-16 budget. This scheme has been introduced in place of the Gold Deposit Scheme (Gold Deposit Scheme). This scheme is in force from 5 November 2015. The objective of this scheme is to reduce the import of gold into India by using about 20000 tonnes of gold lying idle with households and other institutions in productive operations.At least 30 grams of gold will have to be deposited in this scheme. Under this scheme, the maximum amount of gold has not been determined, that is, the depositor can deposit gold from 30 grams to his will. The bank will pay interest to the customer against the gold deposited. The same rules will apply to this gold deposit account, which is usually on a deposit account. There will be no income tax or capital gains tax / tax on the interest received in lieu of this gold.
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25 Important Schemes Launched by Modi Government
In 2014, when the Bharatiya Janata Party in the country gave the responsibility of taking charge of the post of Prime Minister to Narendra Damodar Das Modi. After this, seeing the popularity of the Prime Minister, this government became known as Modi government. This government launched different schemes in the interest of the citizens of…