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Govt likely to purchase gold from households without seeking the source

To use it as collateral, along with forex reserves, to print currency

Topics
Indian Economy | Government expenditure | Lockdown

Rajesh Bhayani  |  Mumbai 

The government is working on a series of measures, including using household gold and foreign exchange reserves as collateral to print more currency, to finance the proposed expenditure to revive the economy, sources close to the development said. The planned move will ensure that the newly minted currency does not put any pressure on the fiscal situation, the sources said.

Also, sovereign ratings will not be impacted owing to the presence of collaterals. The government is likely to purchase gold from households without seeking the source, and the transactions will be done ...

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First Published: Wed, May 13 2020. 22:49 IST
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