The whole RGESS idea is super stupid. I have never heard anybody find a single good thing in it. Rather than going gung-ho on something as stupid as RGESS, FM think of something useful. Till now he has indulged in fluff talk and none of what he says seems plausible. I think he knows that too. No wonder he is harping the deadbeat RGESS.
This is fabulous scheme ...... For an investment of 50,000 in blue chip companies , there would be deduction of 25000 from GROSS TOTAL INCOME.... This deduction would be available apart from existing deduction under 80 C , 80 D ETC. For the safety of investors , the Government has allowed only investment in 100 shares which are Blue chip .. These scrips are fundamentally strong and has a less risk downside......... The most important advantage of this scheme is that Retail participation would increase over a period of time and in long term such participation would boost sensex