Raipur. Regarding the “One Nation One Gold Price” scheme proposed by the Central Government, the Raipur Sarafa Association said that this scheme will prove to be a milestone for the bullion traders. Raipur Sarafa Vyapari Sangh President Suresh Bhansali, Deepchand Kotdiya, Jitendra Golchha, Harish Daga, Sunil Soni, Praveen Malu, Dilip Tatia, Raja Kankariya and the executive said that suggestions have been sought from all the bullion traders regarding the “One Nation One Gold Price” scheme, so that this suggestion can be sent to the Central Government through the Ministry and the Chief Secretary.
Advantages for customers Uniform price: Gold prices will be uniform across the country, making it easier for customers to know where they can get the best price. Greater transparency: There will be increased transparency in gold prices, which will help protect customers from fraud. Increased competition: Competition will increase among different jewellers, which can help customers get better prices. Advantages for bullion traders Level playing field: Small jewellers will find it easier to compete with large jewellers, as they will have the same profit margin on gold purchases. Reduced risk: The risk associated with fluctuations in gold prices will be reduced, which will help businesses plan better Increased sales: Uniform prices may increase the demand for gold, which can increase the sales of businesses. Advantages for the government Increased tax revenue: Tax revenue on gold sales may increase. Boost economic growth: Less dependence on gold imports can help reduce the country’s trade deficit. Disadvantages for customers Fewer choices: Customers may have fewer choices due to less competition among different jewellers. Higher prices in rural areas: Gold prices may be slightly higher in rural areas due to transportation costs. Disadvantages for bullion traders Lower profits: Small jewellers may have lower profits as they will have to keep their prices low. Higher regulatory burden: Regulating gold prices by the government may increase the burden on businesses. Disadvantages for the government Difficulty in enforcement: Enforcing and maintaining gold prices across the country may be difficult. Less linkage to international markets: Linking gold prices to domestic markets may reduce India’s linkage to international markets.
Jitendra Golchha, treasurer of Raipur Sarafa Association, said, “The “One Nation One Gold Price” scheme is still proposed and many aspects will need to be considered before it is implemented. The above points are only a general overview of the possible advantages and disadvantages. The actual effects of the scheme will depend on many factors, including the manner of its implementation and the market response.”
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