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Budget 2018 Gold policy: Spot exchange on cards, GMS to be revamped

However, FM offers no clarity on whether deposits under GMS will be cash equivalents or physical gold

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Budget 2018 Gold Policy

Rajesh Bhayani  |  Mumbai 

After over two years of discussion, the government has finally recognised the need for a comprehensive gold policy. “The Government will formulate a comprehensive Gold Policy to develop gold as an asset class. The Government will also establish a consumer-friendly and trade-efficient system of regulated gold exchanges in the country.

The Gold Monetisation Scheme will be revamped to enable people to open a hassle-free gold deposit accounts,” finance minister Arun Jaitely said in his Budget speech on Thursday. While he refrained from giving details he emphasized three aspects -- ...

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First Published: Fri, February 02 2018. 01:15 IST
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