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A new scheme has been announced in the b...

A new scheme has been announced in the budget 2012-13 giving tax exemptions of first time equity market investors.
The scheme is titled as …………….

A

Rajiv Gandhi Equity Savings Scheme

B

Rashtriya Equity Savings Scheme

C

National Equity Savings Scheme

D

Indira Gandhi Equity Savings Scheme

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The correct Answer is:
A
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As announced by the Finance Minister in his budget speech on 28-2-2011, the income tax exemption limit for individuals other than senior citizens and women has been raised to:

The interest rates in the institutional market have come down significantly and at present are in the range of 5.25 to 5.75 percent per annum. However, interest rates on small savings schemes such as the Post Office Saving Schemes, RBI Relief Bonds, Provident Fund and PPF continue to be administered at high levels in relation to market rates. These schemes also have a variety of tax incentives, which result in much higher post-tax returns and on the flip side more liability for the government. It is ironic that it is predominantly the urban population (and more often people in the high tax bracket), which is benefiting from high rates and tax benefits. The size of small savings has assumed a significant proportion of financial saving in the country. This has also increased dramatically the debt service burden of both Central and State Governments. The interest rates on small savings have decreased considerably during the last few years.

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