Finance Minister Nirmala Sitharaman stated that the income tax rebate in the Budget would benefit the Indian economy. The rebate has increased, allowing individuals to save more money, which could enhance the economy. The Budget also emphasizes rural prosperity, urban workers, and key sector reforms.
SIP additions at a six-month high amid rising churn
In August, the number of new accounts for systematic investment plans (SIPs) soared to a six-month peak, marking significant activity. Nevertheless, the year-on-year growth showcased