KACHARAGADLA

The gold available with the country should be put to productive use, and the new schemes show us the way to achieve the goal: Narendra Modi Prime Minister Narendra   Modi on Thursday launched three gold-related schemes , namely the Gold Monetisation Scheme, Sovereign Gold Bond Scheme and the Gold Coin and Bullion Scheme. “India has no reason to be described as a poor country, as it has 20,000 tonnes of gold. The gold available with the country should be put to productive use, and these schemes show us the way to achieve this goal,” the Prime Minister said while launching the schemes. Gold has often been a source of women's empowerment in Indian society, and these schemes will underscore that sense of empowerment, Mr Modi added. The Gold Monetisation Scheme (GMS) will replace the existing Gold Deposit Scheme, 1999. However, the government has made clear that deposits outstanding under the Gold Deposit Scheme will be allowed to run till maturity unless the deposit