Having raised nearly Rs 1,050 crore in the first two tranches, the NDA Government will "shortly" issue the third tranche of sovereign gold bond
for the fiscal, Economic Affairs Secretary Shaktikanta Das said on
Thursday March 03,2016
"It will come very shortly. I can't say the exact time as then there will be speculations on gold prices," Das told PTI.
The NDA Government had launched the first tranche of sovereign gold bond scheme in November 2015 for which it got subscription for 915.95 kg of gold worth Rs 246 crore.
In January 2016, it came out with the second tranche and
received subscription for 3,071 kg gold amounting to Rs 798 crore.
Under the scheme, gold bonds are issued in denominations of 5 grams, 10 grams, 50 grams and 100 grams for a term of 5-7 years with a rate of interest to be calculated on the value of the metal at the time of investment. The scheme has an annual cap of 500 grams per person
"We would do maximum publicity, maximum advertising to make the third tranche a success," Das said, without disclosing the amount it is expecting to raise.
It is to be noted that Budget 2016-17 has proposed redemption of sovereign gold bonds by an individual exempt from capital gains tax.Further it also provided that long-term capital gains arising to any person on transfer of sovereign gold bonds shall be eligible for indexation benefits.
"It will come very shortly. I can't say the exact time as then there will be speculations on gold prices," Das told PTI.
The NDA Government had launched the first tranche of sovereign gold bond scheme in November 2015 for which it got subscription for 915.95 kg of gold worth Rs 246 crore.
Under the scheme, gold bonds are issued in denominations of 5 grams, 10 grams, 50 grams and 100 grams for a term of 5-7 years with a rate of interest to be calculated on the value of the metal at the time of investment. The scheme has an annual cap of 500 grams per person
"We would do maximum publicity, maximum advertising to make the third tranche a success," Das said, without disclosing the amount it is expecting to raise.
It is to be noted that Budget 2016-17 has proposed redemption of sovereign gold bonds by an individual exempt from capital gains tax.Further it also provided that long-term capital gains arising to any person on transfer of sovereign gold bonds shall be eligible for indexation benefits.
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