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India's finance minister can't persuade his own wife to paperize her gold jewellery

Section: Daily Dispatches

Gold Monetisation Scheme Bows to Family Homilies

By Timsy Jaipuria
Hindustan Times, New Delhi
Tuesday, March 29, 2016

There is a conflict between two finance ministers, and it seems the official one is not winning this war.

The country's finance minister announced a scheme to monetise the gold holdings of India's families, but the finance minister back at home, the housewife, is having none of it.

This came through clearly at a recent meeting between economic affairs secretary Shaktikanta Das and representatives from the Reserve Bank of India, temple trusts, and other bodies to discuss ways to make the scheme more attractive.

"I am not even able to convince my wife to part with her jewellery, which she hardly uses," one official reportedly said at the meeting, raising laughter. "It's easy to convince North Block [one of the Indian government headquarters buildings in New Delhi] but very difficult to convince the finance minister at home to participate in this scheme." ...

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