The first tranche of sovereign gold bonds that closed on November 20 received
an encouraging response despite falling gold prices, suggesting that the
scheme may be successful in reducing imports of the metal. Which of the
following can be inferred from the given statement?
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Inference:
- 63,000 applications were submitted for the scheme, which began on November 5, for 917 kg of paper gold valued Rs 246 crore. Economic Affairs Secretary Shaktikanta Das tweeted, "Excellent reaction for a unique product." The price of gold is almost at a six-year low. The finance ministry proposed changes to make the floundering gold monetisation plan more appealing and stated that the success portended well for the upcoming round of gold bond sales.
- It was mentioned in a release that the scheme's target audience, retail investors, had provided an overwhelmingly positive response. "This novel and creative saving tool has received great feedback from all throughout the nation, and it is anticipated that further.
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