Lok Sabha Question No. 1195 (UNSTARRED), answered on 2020-02-10
Subject: Trading of Gold Reserves
Ministry: FINANCE
Asked by: Sisir Kumar Adhikari

## GOVERNMENT OF INDIA MINISTRY OF FINANCE

## DEPARTMENT OF ECONOMIC AFFAIRS

## Lok SABHA

## UNSTARRED QUESTION NO. 1195 ANSWERED ON - February 10, 2020

## TRADING OF GOLD RESERVE

## 1195: SHRI SISIR KUMAR ADHIKARI;

Will the Minister of FINANCE be pleased to state:

- (a) whether the Government is in regular trading of gold reserves of the country through the Reserve Bank of India (RBI);
- (b) if so, the details of contingencies that have compelled the RBI to trade such domestic reserves;
- (c) the details of principles and decisions of the Government for deciding such trading;
- (d) whether such trading is helping our economy in overcoming the challenges and if so, the details thereof;
- (e) the present position and the status of gold reserves with RBI in comparison to the last six years; and
- (f) the  position  of  the  country  in  meeting  the  requirement  of  economic  balance  of  payment  at present?

## ANSWER

## MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI ANURAG SINGH THAKUR)

- (a) No, Sir.
- (b) , (c) and (d): Do not arise.
- (e): The details are given in the Table below.
- (f): Based on the latest available data, India's foreign exchange reserves stood at US$ 466.7 billion as on January 24, 2020.

| (in Metric Tonnes)   | (in Metric Tonnes)   | (in Metric Tonnes)   | (in Metric Tonnes)   | (in Metric Tonnes)   | (in Metric Tonnes)   | (in Metric Tonnes)   |
|----------------------|----------------------|----------------------|----------------------|----------------------|----------------------|----------------------|
|                      | As on June 30, 2014  | As on June 30, 2015  | As on June 30, 2016  | As on June 30, 2017  | As on June 30, 2018  | As on June 30, 2019  |
| Held Domestic        | 292.26               | 292.26               | 292.28               | 292.28               | 292.30               | 292.30               |
| Held Abroad          | 265.49               | 265.49               | 265.49               | 265.49               | 273.93               | 325.86               |
| Total                | 557.75               | 557.75               | 557.77               | 557.77               | 566.23               | 618.16               |

The  details  with  regard  to  India's  current  account  balance  and  reserve  changes  as  reported  in  the Balance of Payments (BoP) are provided in the table below.

| (in US$ Billion)    | (in US$ Billion)              | (in US$ Billion)                                         |
|---------------------|-------------------------------|----------------------------------------------------------|
| Year                | Current Account Deficit (CAD) | Reserve Change (BoP basis) ((+) accretion/(-) depletion) |
| 2017-18             | -48.7                         | 43.6                                                     |
| 2018-19             | -57.3                         | -3.3                                                     |
| 2019-20 (Apr.-Sep.) | -20.5                         | 19.1                                                     |