आर्यावर्त उवाच:-15

Gold(en) Era of India

A. Gandhi vs Ambedkar

Seen the Play : "Ambedkar and Gandhi " in Mandi House, Delhi. ( By Arvind Gaur, Asmita Theate Group).

1. The role played by both the persons ( Gandhi and Ambedkar) were extra-ordinary. People must go Theatre. Its 10 times more impactful than a movie.

2. Extremely polite and cultured volunteers. The young lady volunteers greeting in traditionally worn cotton sarees with Pranaam-Mudra fills your heart with pride in some of the priceless Indian traditions.

Some glaring Points of Difference between Gandhi and Ambedkar:

1. Varna -System (Brahimn-Kshatriya-Vaishya -Sudra) = Gandhi wanted this system to exist; but was against oppression of Untouchables. He wanted a moral-based conscience to purify and rationalsie Hinduism to give a better space for the Dalits. But was against the separation of Dalits from the Hindu-Fold.

2. Ambedkar refused the existence of Varna-System and Caste-system. He accused Gandhi for not having the guts and morale to go against the dominance of this Brahminical system in Hindu-Religion. He was for a separate political and religious Entity of Dalits away from Hinduism.

3. World -Over - in Islam ,every one is "Son of Allah" and in Christianity, "Everyone is born equal".

4. I stand by Gandhi - for a stronger Hinduism and scorn his support to Varna-System ; I stand by Ambedkar for an " Equal and Egalitarian Society".

Our Constitution addressed this issue and India is a much better version of its past. Thanx Dr B R Ambedkar for making an effort to rationalise Society.

May the spirit of Dr Ambedkar guide us toward equality, justice, and harmony.

Wishing us an inspiring Ambedkar Jayanti.. !!

B. USA

Money seems to be moving out of US Risk Assets as Equities and USD Index both fall sharply. US Dollar Index moves to a new Multi Year Low....

The 10% decline in the US Dollar Index over the last few months will do much more to boost USA's export competitiveness and make imports more expensive than the Tariff policy. For example for Europeans and people from Japan etc buying things and visiting USA as a tourist will be 10% cheaper.

C. India

Net Inflows into domestic equity funds, although down are still strong at Rs 25000 Crores plus This is despite all the volatility and many people doing "Loss Harvesting" in March As markets stabilize these flows should pick up.

Weak Government expenditure was a big drag on Economic Growth last year. If this starts firing then the Indian Economy is in a good position given that Interest Rates are coming down; Personal Tax Cuts kick in this year plus accelerated government expenditure.

They seem to be getting serious if you read about projects being approved and defense orders being placed.

https://economictimes.indiatimes.com/news/economy/infrastructure/finance-ministry-asks-ministries-to-frontload-capex-calls-for-zero-project-delays/articleshow/120173870.cms?from=mdr

D. Gold

• Also, Gold at an all-time High.

• India’s Official Reserve of Gold ( RBI +SGB)= 1000 Tonnes.

• Unofficial Reserve ( Private household Holdings)= 25000 Tonnes.

• The estimated value of 26,000 tonnes of gold is approximately $3 trillion USD.

• India’s Net National Worth is $15 Trillion. Unofficial Gold makes upto 20% of India’s Networth.

• Credibility of the Gvoernment and strong swift mechanism may bring this huge wealth in Official channels to reduce a lot of Debts and the interest payments of India.

Bringing $3 trillion USD worth of privately held gold in India into the mainstream financial system could significantly impact the country’s debt management, foreign exchange reserves, and economic growth.

India’s National Debt Snapshot (2025)

• Total Public Debt (2024-25 )= $2.2–2.4 trillion USD

• Debt-to-GDP Ratio: ~81%

• External Debt: ~$620 billion USD

How Monetizing $3 Trillion in Gold Can Help India:

• Even partial monetization (say 20–30%) of household gold could raise $600–$900 billion USD could: Reduce government’s fiscal deficit; Fund infrastructure, health, and education.

• Converting household gold into tradable financial assets or government bonds can boost Forex reserves, which: Strengthens the rupee; Improves India's credit rating

• India spends a significant part of its budget on interest payments (~25% of total expenditure).Using monetized gold to retire expensive debt could:

  • Lower interest payments

  • Free up resources for productive spending

Practical Ways to Bring Gold into Mainstream

• Sovereign Gold Bonds (SGBs)Encourages investment in gold-backed securitiesGold

• Monetization Scheme Allows individuals to deposit idle gold and earn interest

• Digital Gold Savings Promotes fractional and traceable gold investments

Tax Incentives Boost participation in formal schemes

How Much Debt Could Be Paid Off?

• 25% of $3T monetization can save $750 billion (31% of total debt)

• 50% of $3T can save $1.5 trillion (63% of total debt)

Full monetization is unlikely, but even partial monetization (25–30%) could cover up to a third of India’s debt—a massive relief for public finances.

Challenges for Government:

• Trust Issues: People are reluctant to disclose or hand over gold to banks or the government.

• Cultural Attachment: Gold is deeply tied to tradition, weddings, and religious customs.

• Taxation fears: Many fear inquiries or penalties if gold holdings are revealed.

• Infrastructure & Awareness: Low awareness and access to formal gold schemes in rural areas.