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Economic affairs secretary Shaktikanta Das says India gold coins will happen very shortly, early part of the next month. Photo: Mint
Economic affairs secretary Shaktikanta Das says India gold coins will happen very shortly, early part of the next month. Photo: Mint

Gold coins with Ashok Chakra symbol to be issued next month

The decision to issue Indian gold coins follows an announcement made by finance minister Arun Jaitley in his Budget speech

New Delhi: The government proposes to issue gold coins with Ashok Chakra symbol next month with a view to curbing the demand of imported coins.

“India gold coins will happen very shortly, early part of the next month," economic affairs secretary Shaktikanta Das told reporters on Wednesday.

The decision to issue Indian gold coins follows an announcement made by finance minister Arun Jaitley in his Budget speech. Jaitley had said in February that the government would “commence work on developing an Indian Gold Coin, which will carry the Ashok Chakra on its face". “Such an Indian Gold Coin would help reduce the demand for coins minted outside India and also help recycle the gold available in the country."

Earlier, in the day, the Cabinet approved gold bond and monetisation schemes to curb demand of imported gold and fish out idle gold lying with households and other entities.

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