Performance of Gold Monetization scheme in India

Abstract

India has topped with largest consumers of gold, next to china in the world. Indians prefer buying gold in the form of jewellery and coins rather than bullion. So, central government has come up with three gold schemes namely GOLD MONETISATION SCHEME, SOVEREIGN GOLD BOND and INDIAN GOLD COIN. The main motive of these schemes is to reduce the requirements of gold through imports. About 20000 tonnes of gold are idle with Indian households, temples, etc which is not being traded or monetized in the form of jewellery. This study attempts to scrutinize the three gold schemes in detail with pros & cons and people awareness towards such schemes particularly in Vellore District , Tamilnadu