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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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