Expressing reservations over the Centre's proposed gold monetisation scheme, chief of Parliamentary panel on finance Veerappa Moily on Wednesday said the government should revisit it as it is unlikely to take off with the existing conditions.     

The committee would examine the scheme as the gold industry players have submitted a memorandum before the panel raising certain doubts about it.    

After hearing the industry's views, a detail report would be placed before Parliament on the need to have a sound and proper policy on gold in the country, he added.     

To reduce the current account deficit and bring down the country's dependency on gold imports, the government in May had come out with a draft monetisation scheme that aims to monetise gold through recycling of domestic gold stock.