Widely read:
It has little to do with the history of mutual funds and more to do with the Indian savings psyche. Most people are taught at home to save. What you do with that saving is another story - whether you put it in the locker, keep it in the bank, etc. And going by the tax-saving funds, this is a relatively new phenomenon. It became possible only from 2005. Before that, the maximum you could invest in a tax-saving fund to get the Section 80C benefit (erstwhile called Section 88A) was only Rs 10,000.
This article was originally published on February 14, 2025.
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