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The Government’s gold auction policy is aimed at
Checking of smuggling and reducing the budgetary deficit of the Central Government
Promoting jewellery exports
Making gold available to consumers for ornaments
Rreduce country’s reliance on the import of gold
The objective of the Scheme is to mobilise gold held by households and institutions of the country and facilitate its use for productive purposes, and in the long run, to reduce country’s reliance on the import of gold.
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