Is the central government abandoning the gold bond scheme..!?

Sowmiya Sriram
Is the central government abandoning the gold bond scheme..!?
There are reports that the central government is likely to abandon the gold bond scheme. The gold bond scheme is an alternative to gold jewelry for those who want to invest in gold. According to this, individuals, trusts, and companies from india can invest in such gold bonds digitally. The amount of gold that we can afford is recorded in grams. A minimum of one gram per person will be allotted in this. The tenure of the gold bond is eight years. Eight years later they will pay us the equivalent price of the gold we registered on that date in cash. Apart from that, we also get 2.5 percent interest on the amount paid annually.
People who want to invest in gold in india, but want an alternative to gold jewelry, often invest in gold bonds. In this situation, the central government is going to stop the gold bond scheme, the Money Control site has reported. Recently, the Union Budget reduced the import duty on gold from 15 percent to 6 percent. Due to this, the price of gold in india has decreased significantly. So it is believed that all those who have invested in gold bonds will turn to gold jewelry instead. Apart from that, the returns available on gold bonds will decrease slightly when taxes and other deductions are made.
SGPs fell 2.6 percent on the national bourse since the government cut import duty on gold. That means the price per unit is 7275 rupees. Hence, the demand for gold bonds is expected to decrease. gold bonds were issued for the first time in india on november 30, 2015, when all the investors got back their investment in november last year according to the price of gold gram on that date.
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