Looking forward for the feedback from government of Indian if our thinking on this scheme is correct. Or what best u can give to the citizen.
In short just come with the scheme to all citizens
1. Sell your gold to any banker at market rates
2. Income earn from the transaction will be non taxabale
3. Give the citizen the right to choice any mode of financial instruments for investment
4 Kisan Visan to double income
5 monthly interest free income
6poor people can support their family wants

All the best finance minister to kill the dream of poor people and support the rich to unearth the black money without paying tax. These are the same people who had cheated the country by looting poor people money.

I favor Modi government. I favor the idea of finance minister.
But I did express my feeling since I am one of the poor household citizen who has slogged in life to earn clean money by working hard. This scheme do not provide any benefit to poor people but we will lose everything which is earn.
What will happened?
1. Government will fail to get returns from this scheme
2. Scheme will be a great failure
3. If poor and uneducated people are misguided then after few years many people will die

1 Then deposit same money in government fixed deposit under monthly interest scheme.
2 Under senior citizen fixed deposit u will get higher interest
3 Open fixed deposit under education scheme to get tax free interest
4 Open small deposit in smart if girl child to have interest free income
In short instead of going for gold deposit scheme please sell your gold and go for monthly fixed deposit or got for misanthropic Vikas deposit to double your money.
I hope I did not hurt the government

My dear citizen, pls do not go for this scheme because u are the biggest losses.
What do expect from the government on this scheme which be benefit all.
1. Give us market interest rate which is same as fixed deposit scheme ie 8-9% per month
2. Bank should wave the melting cost of gold ornament

Another option for all citizens
1. Sell your gold bank to the same jewellers from whom u had brought the gold
2. File cases against same jewellers for selling inpure gold
3. You will lose marking

End of this scheme poor will loss
1. Less 20-30% purety on gold
2. Loss making charge
3. In return get 2-3% monthly interest
4. poor people has to pay for melting gold ie Rs. 350 to 500 for 10grams of gold
What bank will get ?
1. Free of cost money from poor people at cheaper rate.
2. Then loan the same money to big industries at the rate of 8-10%
3. What is the grarantee that after few years the same people will get his gold back.
4. Who should be hold responsible for this act.

What return you are paying to such household poor people who had slogged in his life to save each rupees to buy gold.
2. Everyhold will loss the making charge which he paid to buy the ornament since the gold deposit will be melted by bankers.
After doing all this what will be achieved by these poor household
3. Bank will pay 2-3% monthly income for gold deposit.
4. What will make lot of money by killing these poor people hope for the old age.
5. Bank will roll this money in market at 8%

Adding to my below comments
What poor people will get?
1. Poor people are always cheated by such defective structure. Can u jail all the jewellers, who has cheated all the citizen of the country by selling in pure gold in spite of paying market price of the real gold.
2.if this gold is give to banker to melt the same citizen will get 20-30% reduce of gold purity. Who should be half responsible for this act. Will gold ask the citizen to file case acts such jewellers who has cheated our citize

I would like to add more to my comments since I feel that your scheme will not benefit the poor household who are holding 20,000 tonnes of gold. Why ?
1. Your scheme will only help the rich and fraud people who Will convert all black money to white.
2. Thereafter the same killer of the country will withdraw his money from the scheme and invest in another monetory benefit scheme to earn higher return. Hence the rich people will be benefitting more from this scheme due to hidden wealth

Respected Finance Minister, It's a great idea to bring forward such a wonderful scheme whereby dead asset like gold can also have monthly earning. We do agree that this innovative idea will to reduce gold import, unearthed black money since this scheme will not investigate for the source of income and most important factor is bank will get ready fund for rolling the economy. This will make the country self depended on his own fund to investment all running & new projects. As a finance specialis.