Will government bring alternative to SGB scheme in Budget 2025? Here is what experts say
SGB issue opened to the public for subscription on February 12, 2024, and closed on February 16, 2024. The issue price of the SGB was Rs 6,262 per gram of gold. Further, till date, the government has not announced any new issuance of SGB tranches in the financial year. The Sovereign Gold Bond scheme was originally introduced to reduce the demand for physical gold.
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According to a press release dated September 9, 2015, issued by the Ministry of Finance, «The scheme will help in reducing the demand for physical gold by shifting a part of the estimated 300 tons of physical bars and coins purchased every year for investment into gold bonds. Since most of the demand for gold in India is met through imports, this scheme will ultimately help in maintaining the country's Current Account Deficit within sustainable limits.»
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The SGB scheme was announced as a part of the Union Budget 2015-16. ET Wealth Online asked experts whether the government may announce a new gold scheme, which is an alternative to the SGB scheme and also help in controlling the current account deficit of the country. Here is what they have to say:
Col Sanjeev Govila (retd), Certified Financial Planner and CEO of Hum Fauji Initiatives, a
