India Budget 2015: Gold monetisation scheme in the works

A gold monetisation scheme is in the works in India. Reuters

India wants to encourage its gold-hungry population to invest in gold-backed bonds instead of buying the actual metal.

Finance Minister Arun Jaitley, who tabled the federal budget in Parliament on twenty eight February, proposed ways to turn 20,000 tonnes of unproductive gold possessed by Indian households into cash. Continue reading →