Rajiv Gandhi Equity Savings Scheme(RGESS) Liberalised

The Finance Bill 2013-14 proposes liberalisation of the Rajiv Gandhi Equity Savings Scheme(RGESS) that was launched in FY 2012-13. The first time investors will now be allowed to invest in mutual funds as well as listed shares. This investment can be done not in one year alone, but in three successive years. Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram said that the income limit is also being proposed to be raised from Rs.10 lakh to Rs.12 lakh.

***

DSM/RC/nb/7

(Release ID :92739)