Sovereign Gold Bond and Gold Monetization

The Sovereign Gold Bond Scheme and Gold Monetization Scheme were introduced to mobilize idle gold held by Indian households and reduce India's gold import dependency. Statement 1 is correct—both schemes aim to bring idle household gold into the economy. Statement 3 is correct—reducing gold imports is a primary objective as India is the world's largest gold importer. Statement 2 is incorrect—these schemes do not specifically aim to promote FDI in the gold and jewellery sector; their focus is on domestic gold mobilization and import reduction. The schemes offer incentives for citizens to deposit gold with banks, which can then be used for various purposes including jewelry manufacturing, reducing the need for imports. > Key insight: These schemes target idle household gold reserves and import dependence, not foreign direct investment. Answer: (c).