Second phase of gold reforms on govt's priority list, revamped GMS on cards

The government is also considering making gold as an asset class, a source said

The second phase of gold reforms is on the government’s priority list and an action plan, prepared by the economic affairs department and commerce ministry officials while the country was in election mode, will soon be announced. The measures include a revamped gold monetisation scheme (GMS), treating gold as an asset class, setting up the gold board as regulator, and forming a domestic gold council as the policy advisory body, said sources.

The Budget session of Parliament is likely to discuss the gold board. A Bill for the Precious Metals Board of India Act, 2019, is ready and after the new