1. Who can invest in Sovereign Gold Bond Scheme
1) Resident Indians
2) Non
Resident Indians
3) Foreigners
with Indian origin
Which of
the given above statements is/are correct?
a) 1 and 3 only
b) 2 and 3 only
c)
1 only
d) 1, 2 and 3
Explanation
The Sovereign Gold Bond Scheme was
launched in the Union Budget 2015-16 by the Union Cabinet under the supervision
of PM Narendra Modi. The scheme was launched to reduce the demand for physical
gold. It aims to invest a part in physical gold bars and coins, which are
purchased every year as a part of financial savings in the form of gold bonds.
Objectives
- To
reduce the demand for physical gold.
- To
shift a part of the domestic savings - used for the purchase of gold -
into financial savings.
Eligibility
Eligibility
- As
per the Foreign Exchange Management Act, 1999, an individual must be an
Indian resident to meet the eligibility criteria under the Gold Bond
Scheme.
- Any
individual/ association/ trusts/ HUFs having a residency in India is
eligible to invest in the Sovereign Gold Bond scheme. They can also
jointly invest in gold bonds and this scheme.
The
benefits of this scheme can be availed by the minors provided in this bond
purchased by the parents on behalf of them.
Who can invest in Sovereign Gold
Bond Scheme
- Any
candidate under Foreign Exchange Management Act (FEMA) can invest in SGBs.
- An
individual, HUF, trusts a public or private, and universities can invest
in SGBs.
- Guardians
can invest on behalf of a minor.
- An NRI
cannot invest in these bonds, but they are eligible for bonds received as
a resident investor’s nominee. KYC documents such as Voter ID, Aadhaar
card/PAN, or TAN /Passport must be needed for buying the SGB.
- The
application for Sovereign Gold Bond Scheme can be made for the minimum of
one gram and in multiples of one gram maximum up to the limits.
- An
Individual and a HUF should be invested up to four kg in SGBs in each
financial year.
- Another
eligible can invest up to 20 kg in a year.
2. Consider the following statements with respect to Grameen
Udyami Project (GUP)
1) It is a unique multiskilling project, funded by Ministry
of Tribal Affairs
2) It aims to train tribal community students.
3) It is implemented in the 5th schedule areas
Select the correct answer using the codes given below:
a) 1 and 2 only
b)
2 and 3 only
c) 3 only
d) 1, 2 and 3
Explanation
Context:
Grameen Udyami Project launched in Ranchi to promote skill development and
Entrepreneurship amongst the tribal youth, gives a boost to Skill
India Mission
About GUP
- It
is a unique multiskilling project, funded by National
Skill Development Council that aims to train tribal students.
- Implementation: Six
states: – Maharashtra, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand,
and Gujarat. Hence statement 3 is
incorrect
The
Fifth Schedule designates tribal majority areas in ten tribal minority states
within peninsular India including, Andhra Pradesh, Telangana, Gujarat,
Jharkhand, Chhattisgarh, Himachal Pradesh, Madhya Pradesh, Maharashtra, Odisha,
and Rajasthan.
- It
is implemented under Sansadiya Parisankul Yojana.
- Benefit:
- It
will augment skill training in tribal youth and ensure
the inclusive and sustainable growth of tribal communities.
- It
will impart functional skills to them for enabling
livelihoods.
- Increase
in Rural/Local Economy
- Enhance employment
opportunities
- Reduce
forced migration due to lack
of local opportunities
- Conservation of
natural resources
