A
coherent policy framework
Could
help make India’s gold market!
In
a row the WGC announced their Market Update, India's Budget: policy and
progress. The update says, India, a nation that accounts for around a fifth of
annual global gold demand, has a long history of gold-focused policies. These,
however, have often distorted the market rather than achieving policymakers’
aims.
Announcements
in the Union Budget on 1 February 2018, however, suggest this might change.
Arun Jaitley, India’s Finance Minister, explicitly highlighted the government’s
desire to formulate a comprehensive policy to develop gold as an asset class,
create gold exchanges, and revamp the Gold Monetisation Scheme.