In a move that has taken both investors and citizens by surprise, the government has announced a major initiative to make gold more affordable for the common people. Amid skyrocketing gold prices that have crossed ₹12,000 per 10 grams in the open market, this new step allows citizens to buy gold at a subsidized rate of just ₹3,500 for 10 grams under a special government-backed scheme.
According to official sources, this scheme aims to promote savings through gold investments while curbing the rising demand for imported gold. The subsidized gold will reportedly be distributed through select government banks and post offices under the “Swarna Suraksha Yojana”, which encourages people to invest in certified, traceable gold coins or digital gold rather than physical jewelry.
Officials clarified that this price does not reflect the market value of gold but a controlled, investment-linked offering designed to help small investors own gold safely and legally. Priority will be given to women, small investors, and rural households.
The government is also expected to link this initiative with digital gold wallets, where citizens can store, trade, or redeem gold conveniently without physical storage risks.
Experts believe this scheme could help stabilize gold prices, reduce smuggling, and strengthen India’s gold reserves in the long term. However, they also caution that the limited quota and eligibility restrictions could make it highly competitive.
With the festive season and Diwali around the corner, this move is expected to create a massive buzz among consumers, jewelers, and financial institutions alike.
