India to Introduce Third Tranche of SGB Soon

New Delhi: Having raised nearly Rs 1,050 crore in the first two tranches, the government will “shortly” issue the third tranche of sovereign gold bond (SGB) for the fiscal, Economic Affairs Secretary Shaktikanta Das said Thursday.

“It will come very shortly. I can’t say the exact time as then there will be speculations on gold prices,” Das said.

The government had launched the first tranche of sovereign gold bond scheme in November for which it got subscription for 915.95 kg of gold worth Rs 246 crore. In January, it came out with the second tranche and received subscription for 3,071 kg gold amounting to Rs 798 crore.

“We would do maximum publicity, maximum advertising to make the third tranche a success,” Das said, without disclosing the amount it is expecting to raise.

Further, Budget 2016-17 has proposed redemption of sovereign gold bonds by an individual exempt from capital gains tax.

Further it also provided that long-term capital gains arising to any person on transfer of sovereign gold bonds shall be eligible for indexation benefits.