Sovereign Gold Bond: After the launch of Government Gold Bonds (SGBs) in 2015, the government has raised Rs 31,290 crore from the scheme. Finance Minister Nirmala Sitharaman gave this information to Parliament on Monday. In his reply to the Lok Sabha, Sitaraman suggested the SGB scheme on November 5, 2015 by the Government of India as an alternative to develop and finance physical assets and to buy or hold physical gold.
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He said, “The public response to the SGB project is to raise Rs 31,290 crore from 2015-16.” Speaking about the features of the scheme, the Minister of Finance said that these bonds were issued on Indian Rupees and Gold payments. The bonds are issued by the Reserve Bank of India on behalf of the Government of India and are subject to government guarantees.
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It added, “The interest payable on these bonds is half-yearly and 2.5% per annum. Interest on the bond is taxed under the Income Tax Act. Any person is exempt from capital gains tax on SGB redemption. – Opened Monday to August 13. Settlement date August 17, 2021. Bond issuance price of Rs 4,790 per gram during the period of application .60.5 (Rs. 1,97,45,670 crore).
