After spreading misleading news against RBI regarding the sale of gold reserves, the media has yet again attempted similar propaganda as some news outlets had reported that the Centre had proposed an ‘amnesty scheme’ for gold to unearth black money.
Media houses had reported earlier today that the government may soon announce a ‘gold amnesty scheme’ with an aim to target black money. “The government was mulling a plan to fix a holding limit of the yellow metal under the scheme,” the reports had said.
The Economic Times had reported that the new amnesty scheme will be introduced to allow gold hoarders to come clean on the investment made using black money by declaring their possession and paying tax on it.
However, on Thursday, the government officials have refuted the media reports claiming regarding such an ‘amnesty scheme’. According to CNBC-TV18, the government officials stated that there is no such Gold Amnesty Scheme under consideration as being reported in media.
The government is not considering any gold amnesty scheme as part of efforts to unearth unaccounted wealth stashed in the form of yellow metal, official sources said on Thursday. ANI reported quoting the finance ministry that there is no such scheme under consideration and media reports are mere speculation.
Govt official tells CNBC-TV18, there’s no such Gold Amnesty Scheme under consideration as being reported in media pic.twitter.com/pO3aCRryaw
— CNBC-TV18 (@CNBCTV18Live) October 31, 2019
In a hurry to corner the Modi government, some sections of the mainstream media had published misleading reports to suggest that the government intended to control private holdings in its fight against black money.
Congress party trolls and propagandists soon jumped to the scene to spread their usual lies, claiming that it was another demonetisation.
Modi is going for ‘demonetization’ of gold – Indians very well deserve this madness! https://t.co/PVgwZaA8EW
— Ashok Swain (@ashoswai) October 30, 2019
After LOOTING your savings via #Demonetisation, I now want all your GOLD. All gold without receipt will have to be declared & you pay Taxes on it. So if your parents handed some down to you. Say BYE BYE to it. I am cuming.
— My Fellow Indians (@MyFellowIndians) October 30, 2019
Now, unaccounted gold holders may have to pay heavy fine; Modi govt plans amnesty schemehttps://t.co/MRnbAhuyLg
If true, this would be just the 1st baby step towards full Govt control on private gold holdings. I see lot of turmoil ahead 4 the polity.
— SonaliRanade (@sonaliranade) October 30, 2019
In similar propaganda last week, various media houses had reported that the Reserve Bank of India has been selling gold from its reserves for the first time in a long while. According to the Economic Times report, the RBI since the beginning of July had bought gold worth $5.1 billion and sold about $1.15 billion of the yellow metal.
Tweaking its headline a bit, the ET had reported that RBI has begun to sell some of its gold again despite their own reports suggesting that RBI had bought more gold than selling from its reserves.
However, the Reserve Bank of India had to release a statement refuting media reports which had stated that they have been selling or trading in gold lately. The RBI had clarified that it has not sold any gold or trading in it.