The much-awaited new gold policy of the government will be out in 15-20 days, a senior finance ministry official said on Thursday. "Gold policy will go for cabinet approval in 15-20 days. In February 2018, former Finance Minister late Arun Jaitley had announced the formulation of gold policy to develop gold as an asset class. Notably, the government had announced a gold monetisation scheme and gold bond scheme in 2015 to decrease the import of gold and arrest the widening current account deficit. While the gold bond scheme succeeded in eliciting a good response from people, the gold monetisation scheme failed to entice common masses to deposit their physical gold with the banks.

Source: dna October 10, 2019 12:45 UTC