Mutual funds have a track record of being long-term investments where investors pool their funds and invest through fund managers in stocks, bonds, and other securities.
After the speech outlining the budget proposal for 2023, the Sensex rose today by 158.18 points, or 0.27%, while the Nifty fell by 45.85 points, or 0.26%, to close at a level of 17,616.30.
However, out of all of these instruments, the Equity Linked Savings Scheme (ELSS) is the most well-known because it has the shortest lock-in period of 3 years and has a track record of producing better returns over the long term than fixed deposits, post office schemes, and other tax-saving investments that fall under section 80C.