Budget 2018: In a bid to give a boost to the yellow metal and increase investments in gold, Finance Minister Arun Jaitley today announced that the government will formulate a comprehensive Gold Policy to develop gold as an asset class. He said that a system of consumer-friendly and trade-efficient system of regulated gold exchanges will also be established in the country, while the Gold Monetisation Scheme will be revamped to help people open Gold Deposit Accounts in a hassle-free manner.
“The FM in Union Budget 2018 today announced that the government will come with a comprehensive gold policy. The government aims to develop gold as a capital asset which can be traded and regulated in a fair and transparent way. It is also working on establishing gold exchanges. It will be interesting to see their next step in this regard as investment in gold is what Indians like very much. Having separate regulated gild exchanges will help to regulate price as well,” said CA Anurag Sodhani, consultant, Big4.
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Clearly, the Modi government wants people to increase their investments in gold, which Indians also like.