Press Esc to close
Sunday 11 December 2016
News updated at 2:10 AM IST
Weather
Max: 30.3°C
Min : 16.2°C
In Bengaluru
clear sky

Did not advocate auction of country's gold stocks: Sharma

New Delhi, Aug.29, 2013, (PTI):
File photo.
Commerce Minister Anand Sharma today said he had not advocated auction or mortgaging of country's gold stocks and only suggested that RBI look at 'monetising' the reserves to contain the widening current account deficit.

"I have not said that there should be an auction or mortgage of gold. All I had said was that RBI should look into the benefits of issuing (gold) bonds or monetising the stock," he said in Rajya Sabha.

The response came after Satish Chandra Mishra (BSP) raised the issue of Sharma's reported statement outside Parliament.

Sharma said he had only said that RBI should consider monetising gold. He, however, did not elaborate on what he meant by monetising of the reserves.

"I have not said that there should be auction or selling of gold," he said.

Sharma had said on Tuesday that "It is for the banking secretary, bankers and the RBI to see how you can monetise gold, (from) the country with over 31,000 tonnes of declared gold. That is the declared part. So, even if 500 tonnes is monetised, then in today's value, I think it takes care of CAD."

He had said that this "decision (of monetising gold) is beyond me... but I am just pointing in that direction. Can we do something there? I think we can, because you have to think out of the box."

 

Go to Top

Photo Gallery
Indian sitar player and composer Anoushka Shankar performs at the live concert...

Indian sitar player and composer Anoushka Shankar performs at the live concert...

I-T department seized Rs 5.7 cr cash in new notes, 32kg bullion and jewelery and Rs 90 lakh...

I-T department seized Rs 5.7 cr cash in new notes, 32kg bullion and jewelery and Rs 90 lakh...

International Animal Rights Day and Human Rights Day in Bengaluru...

International Animal Rights Day and Human Rights Day in Bengaluru...

Laborers remove weeds from Dal Lake on a cold and foggy day in Srinagar...

Laborers remove weeds from Dal Lake on a cold and foggy day in Srinagar...

President Pranab Mukherjee with Tibetan spiritual leader, the Dalai Lama during the inaugural...

President Pranab Mukherjee with Tibetan spiritual leader, the Dalai Lama during the inaugural...

A view of the illuminated Ajmer Sharif Dargah decorated for the upcoming Jashne Eid E Milad...

A view of the illuminated Ajmer Sharif Dargah decorated for the upcoming Jashne Eid E Milad...

Former Indian football captain Baichung Bhutia in Lamborghini four wheeler during Air Strip...

Former Indian football captain Baichung Bhutia in Lamborghini four wheeler during Air Strip...

A sand sculpture created by renowned sand artist Sudarsan Pattnaik with message 'Good Luck...

A sand sculpture created by renowned sand artist Sudarsan Pattnaik with message 'Good Luck...

Bollywood Actor Shah Rukh Khan with director-producer Abbas-Mustan during the Muhurat for...

Bollywood Actor Shah Rukh Khan with director-producer Abbas-Mustan during the Muhurat for...

Migratory Siberian seagulls birds flying over the Ganges in Allahabad on Saturday...

Migratory Siberian seagulls birds flying over the Ganges in Allahabad on Saturday...

Like us on Facebook

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523