Will have to give information about the gold kept at home Modi government is bringing new scheme

Around 25,000 tonnes of gold is kept in people's homes in India. A large part of it is of illegal gold. It is now reported that the government is working on an amnesty program to reduce tax evasion and reduce dependence on gold imports.

 

New Delhi. The Ministry of Finance is now considering an amnesty program (illegal-forgiveness program) for illegal gold held in households in India. Through this program, the government wants to curb tax evasion and reduce dependence on imports. A business news website has written a report citing people associated with the case. In the proposal presented before Prime Minister Narendra Modi, the government has said that the government will appeal to the people to inform the tax department about illegally kept yellow metal. For this, they have to pay levy or penalty. However, this proposal is still in the initial stage. The government is still deliberating with the officials concerned.

PM Modi gave information about three plans in the year 2015, with the consent of the states, about 25,000 tons of gold kept in homes, physical gold by institutions and reducing imports so that alternative means of investment can be found. . However, this plan could not be popular because a class did not want to leave the gold kept with it. A large part of the gold kept in homes is in the form of jewelery and wears it on special occasions. However, there was another class who feared that they would be punished by the tax department.

Government will have to keep a part of gold
In this Bloomberg report, officials have been quoted saying that those who will give details of their gold, they must keep a part of their gold legally with the government for some time. In another media report on October 30 last year, it was said that even during that time the government was working on such a program. However, during that time the tax department had dismissed reports of any such program.

Estimates of rise in gold prices this year
Let us know that this year, gold prices have seen an increase of up to 30 percent so far. The current corona virus epidemic has helped it grow even more. In fact, in an environment of uncertainty about the global economy, investors have been preferring the investment option. Recently, Goldman Sachs has said in a report that in the coming times, governments around the world are going to announce the next relief package. In such a situation, bullion market will see a boom. Goldman Sachs has estimated the price of gold at $ 2,300 an oz.

Big fall in silver on Thursday
Meanwhile, the price of 10 grams of gold in Delhi has increased by Rs 118 to Rs 53,742 on Thursday due to the weakness in the rupee against the US dollar. However, the price of silver declined. The price of one kilogram of silver in Delhi has come down from Rs 66,484 to Rs 64,100. During this period, prices have fallen by Rs 2,384.




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