Govt. Approved: Rajiv Gandhi Equity Saving Scheme – One of the best investment options
Finally, Govt of India approved the Rajiv Gandhi Equity Saving Scheme yesterday.
Below are highlights of Rajiv Gandhi Equity Saving Scheme
- This scheme is aimed to new investors who want to invest up to Rs 50,000 in capital markets and whose annual income is up to Rs 10 lakhs
- The investment can be done in blue-chip private and public sector companies. The scheme covers stocks listed in BSE 100, CNX 100 and Navarathna, Maharathna and Minirathna public sector firms.
- The investment can also be done in Mutual funds and listed exchange traded funds (ETF’s)
- Investors can also invest in IPO (initial public offers) and FPO (follow-up public offers) of public sector companies whose turnover is Rs 4,000 crores+ where Government also gets benefitted towards its move to disinvestment.
- Tax deduction eligible is 50% of the investment.
- Lock-in period is for 3 years.
Conclusion: This scheme is one of the best investment options for a new investor who want to participate in capital market, mutual funds and ETF’s. However one should exercise caution while investing in direct stock markets, as they are risky. Look for best stocks or good mutual funds suitable for you, before investing.
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