FM announces a Special Policy on Gold

NewDelhi Feb 3: The Government on Thursday has presented the budget and has laid a special emphasis on transforming gold into an asset. FM has said that "The Government will formulate a comprehensive Gold Policy to develop gold as an asset class."

"The Government will also establish a system of consumer-friendly and trade efficient system of regulated gold exchanges in the country. Gold Monetization Scheme will be revamped to enable people to open a hassle-free Gold Deposit Account. "

The gold industry has welcomed the move and said that more people would invest in gold after a gold exchange centers come up in rural areas. They have also said that revamp of gold monetization scheme is appreciable because the current scheme is not attractive and many
people have still kept idle gold in form of jewelry and ornaments which is of no use to the economy.