The Rajiv Gandhi Equity Savings Scheme (RGESS) was launched in late-September of 2012-13 which was announced by the then Finance Minister Pranab Mukherjee in the 2012-13 speech. It is initiative that aims to bring in millions of first-time investors into stock markets by offering tax incentives. This will bring the savings of the urban and semi-urban middle class into turn equities as an attractive alternative to gold and cash.
Here are some details on the scheme:
1. The scheme is open only to first time retail investors who have income of less than Rs. 10 lakhs in a year and are identified on the basis of their PAN card numbers. This also includes those who have opened the Demat account but have not made any transaction in equity or in derivatives till the date of notification of this scheme.
2. The…show more content… Here are some stock tips on that:
ITC: ITC is a pure FMCG play. It is a very stable stock and looks good when one is have a one year perspective. It is a low risk and low return and is a good stock even when markets look bearish. This stock can act as a hedging stock too.
SBI: SBI is one of the most fundamentally sound stocks in the markets. It is one of the leading banks in the country and when considering long term SBI cannot be ignored.
Lupin: Lupin is a growth stock. The company has good fundamentals and is a good pick in the pharma sector. Lupin will look to add decent returns to the portfolio from the growth story which it has been pursuing over many years.
Titan: Just like Titan is a growth story and it carries strong fundamentals. Titan is a play on the India consumption story and its leadership in jewellery and watches sector has been commendable. The company will continue to prosperous and its stock will reflect