Finance Minister P Chidambaram today said regulator Sebi is expected to announce fresh market reform measures next month. In a statement, the finance minister favoured encouraging more people to invest in financial instruments rather than in gold.

Expressing satisfaction over wide-ranging reforms announced by Securities and Exchange Board of India (Sebi) yesterday for mutual funds and other segments, Mr Chidambaram said he has requested Sebi Chairman U K Sinha to look into a number of other suggestions for the benefit of investors.

The Finance Minister said the measures announced by Sebi yesterday will stimulate financial savings among
households as well as give a fillip to the mutual fund industry. He also said he expects the government to take a decision shortly on Sebi's recommendation for providing tax benefits to equity mutual fund investors under the proposed Rajiv Gandhi Equity Savings Scheme (RGESS).