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    Question

    How has the sovereign gold bonds (SGBs) scheme impacted

    India's gold import bill in the financial year 2023-24?
    A Increased by 10% Correct Answer Incorrect Answer
    B Decreased by 5.5% Correct Answer Incorrect Answer
    C No significant impact Correct Answer Incorrect Answer
    D Saved $3.3 billion Correct Answer Incorrect Answer
    E Led to a deficit in the trade balance Correct Answer Incorrect Answer

    Solution

    The sovereign gold bonds (SGBs) scheme in FY24 has saved $3.3 billion in India's gold import bill by reducing the physical demand for gold, which in turn saved approximately 7-8% of the country's annual gold import bill.

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