NEW DELHI: The government plans to announce a review of the foreign direct investment limits as also coal pricing and allocation to power plants and gas pricing by the end of June, finance minister Palaniappan Chidambaram told reporters on Thursday.

The various measures taken by the government since last September have yielded significant results and the government is looking forward to more reforms in the coming days, he said, adding that the government is encouraging every ministry to accelerate spending early.

The finance minister made an appeal to Indians to stop buying gold.

"India does not produce an ounce of gold. You pay in rupee, but the government has to spend dollars to buy gold," Chidambaram said.

" I do not buy gold. To think that gold is the safest investment is wrong, " the finance minister said.

Chidambaram said that net gold imports have fallen from an average of $135 million in the first half of May to $36 million in the second half of last month, adding it should have a positive impact on markets.

He added the performance of crude oil, natural gas and fertiliser sectors are key concerns for the government.

Chidambaram also welcomed Wednesday's measures from the market regulator to increase government debt limits for long-term investors, and said Indian bond yields should still attractive to foreign investors.

(With inputs from Reuters)