Govt Clarifies No Plan To Monetise Gold Held By Temples

The government on Tuesday clarified that there is no plan to monetise gold held by temple trusts or any religious institution in the country. Any media report or social media post suggesting otherwise is false.

“Clarification on false claims on monetisation of temple gold holdings. Speculation and rumours suggesting that the Government is planning to introduce a monetisation scheme for gold held by temple trusts, or any religious institution, across the country are completely false, misleading, and without any basis,” the Ministry of Finance clarified in a post on X (formerly Twitter).

The government said that certain media reports and social media posts were circulating with claims that the government was planning to issue gold bonds to temples in exchange for temple gold reserves or that a proposal had been approved for monetisation of temple gold holdings.

The government denied such claims to calm fears among the people. It asked citizens not to circulate such unverified reports.

It also clarified that claims suggesting gold plates on temple towers, doors, or other temple structures would be considered as “Strategic Gold Reserves of India” are false, misleading, and entirely baseless.

“Citizens are requested not to believe or circulate such rumours. Spreading unverified information creates unnecessary confusion and may mislead the public. The Government urges all citizens to rely only on official communications issued through authorised channels. Any information regarding policy decisions or government schemes will be shared through official press releases, government websites, and verified public communication platforms,” the ministry said in a statement released by the Press Information Bureau.

This is the second time in less than a week that such a clarification has come from the government. Earlier, Prime Minister Narendra Modi had clarified that there was no government plan to tax foreign travel.

The government is facing challenges in maintaining forex reserves amid rising crude oil prices. Fuel price hikes, import tax on gold, and voluntary austerity measures are among the various steps taken by the government to manage the crisis.