The paper, which evolved out of the Contemporary Concerns Study done by Amrutha Das and Rinusha K Rajan (2015-17 batch) during their final year at IIMB, under the mentorship of Prof. Charan Singh, focusses on temple gold
7 September, 2017, Bengaluru: Amrutha Das, student of the 2015-17 batch of IIM Bangalore’s Post Graduate Programme in Management (PGP), presented her working paper, co-authored with batchmate Rinusha K Rajan, at an international conference conducted by the Association of Indian Economic and Financial Studies (AIEFS), held on July 31 and August 1, 2017, in Bhubaneswar, Odisha, India.
The paper which was selected by AIEFS evolved out of the Contemporary Concerns Study (CCS) done by the two former students during their final year at IIMB, under the mentorship of Prof. Charan Singh from the Economics & Social Sciences area of IIMB. The research focusses on temple gold and the CCS report is titled, ‘Exploring Tepid Response to Gold Monetisation Scheme’. The working paper was presented in the conference under the title, ‘How to Make the Temple Gold Monetisation Scheme Successful’.
The 22nd Biennial Conference 2017 of AIEFS was organized jointly with Nabakrushna Choudhury Centre for Development Studies (NCDS), an Indian Council of Social Science Research institute. The two-day event consisted of several academic sessions and invited lectures on the topics of interest to most of the students and researchers on the Indian Economy.
AIEFS is a non-profit academic organization which aims to educate the world on the realities of changing India. It aims to: promote interest in the study of Indian economics and finance, encourage inquiry into, and analysis of, the problems facing the Indian economy, and facilitate communication and discussion among scholars. It provides a forum for around 25-30 papers per year from around the world. Academics from various universities in the US, UK, Australia, Japan, Europe and India, as also from international organizations, including IMF and the World Bank, have presented papers at such events. In its 33-year history, the AIEFS has provided a platform for over 1500 economists.
Abstract: Since times immemorial, India has been a leading consumer of gold in the world with an ever-increasing demand for the metal. However, due to a shortage of domestic gold, the country has largely been dependent on gold imports to meet this demand, resulting in large current account deficits. In 2015, the Government launched the Gold Monetisation Scheme (GMS), a substantial modification of the erstwhile Gold Deposit Scheme and Gold Metal Loan Scheme to mobilize gold in Indian households and historical gold reserves lying with religious institutions like temples. Nevertheless, Government sources confirm that only 3.1 tonnes have been mobilized successfully under GMS until July 2016, which is abysmally low compared to the amount of gold estimated to be lying idle in households. Through a literature survey, field visits and structured interviews with multiple stakeholders, this study attempts to identify and analyze the challenges that inhibit the scheme from realizing its full potential. The study concludes with recommendations to enhance adoption of the scheme by both households and temples.
The paper, which evolved out of the Contemporary Concerns Study done by Amrutha Das and Rinusha K Rajan (2015-17 batch) during their final year at IIMB, under the mentorship of Prof. Charan Singh, focusses on temple gold
7 September, 2017, Bengaluru: Amrutha Das, student of the 2015-17 batch of IIM Bangalore’s Post Graduate Programme in Management (PGP), presented her working paper, co-authored with batchmate Rinusha K Rajan, at an international conference conducted by the Association of Indian Economic and Financial Studies (AIEFS), held on July 31 and August 1, 2017, in Bhubaneswar, Odisha, India.
The paper which was selected by AIEFS evolved out of the Contemporary Concerns Study (CCS) done by the two former students during their final year at IIMB, under the mentorship of Prof. Charan Singh from the Economics & Social Sciences area of IIMB. The research focusses on temple gold and the CCS report is titled, ‘Exploring Tepid Response to Gold Monetisation Scheme’. The working paper was presented in the conference under the title, ‘How to Make the Temple Gold Monetisation Scheme Successful’.
The 22nd Biennial Conference 2017 of AIEFS was organized jointly with Nabakrushna Choudhury Centre for Development Studies (NCDS), an Indian Council of Social Science Research institute. The two-day event consisted of several academic sessions and invited lectures on the topics of interest to most of the students and researchers on the Indian Economy.
AIEFS is a non-profit academic organization which aims to educate the world on the realities of changing India. It aims to: promote interest in the study of Indian economics and finance, encourage inquiry into, and analysis of, the problems facing the Indian economy, and facilitate communication and discussion among scholars. It provides a forum for around 25-30 papers per year from around the world. Academics from various universities in the US, UK, Australia, Japan, Europe and India, as also from international organizations, including IMF and the World Bank, have presented papers at such events. In its 33-year history, the AIEFS has provided a platform for over 1500 economists.
Abstract: Since times immemorial, India has been a leading consumer of gold in the world with an ever-increasing demand for the metal. However, due to a shortage of domestic gold, the country has largely been dependent on gold imports to meet this demand, resulting in large current account deficits. In 2015, the Government launched the Gold Monetisation Scheme (GMS), a substantial modification of the erstwhile Gold Deposit Scheme and Gold Metal Loan Scheme to mobilize gold in Indian households and historical gold reserves lying with religious institutions like temples. Nevertheless, Government sources confirm that only 3.1 tonnes have been mobilized successfully under GMS until July 2016, which is abysmally low compared to the amount of gold estimated to be lying idle in households. Through a literature survey, field visits and structured interviews with multiple stakeholders, this study attempts to identify and analyze the challenges that inhibit the scheme from realizing its full potential. The study concludes with recommendations to enhance adoption of the scheme by both households and temples.