P Chidambaram incentives for Mutual Funds of India
Posted on Aug 7 2012 at 04:03:17 AM in Finance & Investment
P Chidambaram has said today that finance ministry will come up with quite a few measures to increase investment in mutual funds, considering most of the investment comes from metro cities of India. To quote "In the next few weeks, we will announce a number of decisions to attract more people to invest in mutual funds, insurance policies and other well-designed instruments", as we are aware with Pranab Mukherjee becoming the president of India, finance ministry has now been allocated to Mr Chidambaram. Looks like government is seriously considering to boost of investment in securities, a new scheme was launched earlier in this budget on the same lines, Rajiv Gandhi Equity Scheme. The average investment in mutual funds has dropped 5% from the last fiscal year. Last year the fall was 11%. It has now become necessary for finance ministry to give required incentives to boost investment in mutual funds of India. Looking forward for new announcements from the government in coming weeks, will keep posted.