This scheme of annual issuance of gold bonds was stopped in 2024 — well before the parabolic surge in international gold prices. Now, retrospectively, because gold prices have shot up, you will pay a long-term capital gains tax of 12.5 per cent. A simple Occam’s razor rule for the Finance Minister: Any retrospective tax is bad policy, by definition, morally, and otherwise. Excluding the retrospective tax, Budget 2026 is a very good example of good policymaking. Stated bluntly, the investment climate is bad — and the new retrospective tax makes it worse.

Source: Indian Express February 06, 2026 14:52 UTC