The government is not considering any proposal to restrict holding of gold by individuals, a top finance ministry source said today.
Following the demonetisation of 500 and 1,000 rupee notes in a bid to crack down on black money, there were apprehensions among people that the government might impose some kind of restrictions on gold holding by individuals.
“There is no such proposal before the government on restricting domestic gold holding,” the source said.
There were reports that many people have converted their black money into gold following the announcement of demonetisation of high denomination currency notes by Prime Minister Narendra Modi on November 8.
The government had earlier denied that there was any move to digitise personal lockers in banks amid rumours in social media that they would be opened only in the presence of revenue officials.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.