UPSC CSE Prelims
Question 92
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.
View correct answer and explanation
Correct answer: C
Correct Option: C
Explanation: The gold schemes introduced in 2015 aimed to mobilise idle household gold, offer financial alternatives to physical gold and ease pressure on gold imports, not specifically attract FDI to jewellery.
Statement/Pair-wise Analysis:
Statement/Item 1: Correct - Gold Monetisation seeks to bring unused gold into the banking/monetary system.
Statement/Item 2: Incorrect - Promoting foreign direct investment in jewellery is not the direct purpose of these schemes.
Statement/Item 3: Correct - Sovereign Gold Bonds and mobilising domestic gold reduce demand for fresh physical imports.
Option-wise Analysis:
A: Incorrect - omits correct statement/item 3.
B: Incorrect - includes incorrect statement/item 2; omits correct statement/item 1.
C: Correct - includes all and only the true statements/items.
D: Incorrect - includes incorrect statement/item 2.