Should India implement a gold monetisation scheme
India needs a special Gold monetisation scheme with a 3-month window to ease the load on imports :
- Allow individuals to sell their physical gold (jewellery, bars, coins). GST rate applicable.
- Fully exempt the net proceeds from capital gains tax and any other taxes
- Provide above tax exemption only if the entire sale proceeds are invested within a specified period into designated Mutual Funds or Infra Bonds
- Mandate a minimum 5-year lock-in period for the invested funds
- Impose a per-person cap of 500 grams of gold eligible for this scheme during the 3-month window.
The above scheme can unlock $1 trillion worth of idle assets into the economy.
Should it be done? Sharing here as we all know how much weight LocalCircles has on Government policy more
- Allow individuals to sell their physical gold (jewellery, bars, coins). GST rate applicable.
- Fully exempt the net proceeds from capital gains tax and any other taxes
- Provide above tax exemption only if the entire sale proceeds are invested within a specified period into designated Mutual Funds or Infra Bonds
- Mandate a minimum 5-year lock-in period for the invested funds
- Impose a per-person cap of 500 grams of gold eligible for this scheme during the 3-month window.
The above scheme can unlock $1 trillion worth of idle assets into the economy.
Should it be done? Sharing here as we all know how much weight LocalCircles has on Government policy more
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good idea but the capitalistic bigwigs in the country will never part with it and will oppose with all their might more
Nov 27
Yes, India does need a strong, redesigned gold monetisation scheme – but not a quick 3-month “raid-like” window. It should be a trusted, permanent, flexible system that slowly pulls idle gold into the formal economy, without triggering panic or resentment. more
Nov 26
