Finance ministry officials admit many households remain reluctant to monetise their gold because they fear tax scrutiny and questions over their holdings once they enter the formal system
Since its launch in 2015, the Gold Monetisation Scheme mobilised around 39 tonnes of gold by November 2025, according to official data, negligible compared to India’s estimated 25,000–30,000 tonnes of household holdings.
Revamped GMS allows jewellers as collection partners.
Tax scrutiny fears hinder gold monetization.
Scheme aims to mobilise idle gold, cut imports.
Adrija Chatterjee is an Assistant Editor at Moneycontrol. She has been tracking and reporting on finance and trade ministries for over eight years.
Meghna Mittal Deputy News Editor at Moneycontrol. Meghna has experience across television, print, online and wire media. She has been covering the Indian economy, monetary and fiscal policies, Finance and Trade ministries. She tweets at @Meghnamittal23 Contact: meghna.mittal@nw18.com
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!