Government may increase the limit of 80c to encourage savings - January 24, 2013

Savings as a part of GDP has reduced to 9.3% of GDP while it imported $38 billion worth of gold.

Savings as a part of GDP has reduced to 9.3% of GDP while it imported $38 billion worth of gold. The government is thinking of increasing the 80C limit wherein it reduced Upto 1 lakh from the income invested in PPFs and insurance. The government may either increase the limit of carve out another savings tributary in mutual funds.

Source: www.economictimes.com, January 24, 2013. “Budget 2013: Govt mulls higher tax exemption on savings schemes & tax savers to wean away investors from gold”

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