FM Nirmala Sitharaman Says The Scope Of ‘Savings’ Is Expanding Beyond Just Bank Accounts

The last few budgets have seen a clear shift towards lowering of income tax exemptions on savings. The new tax regime, in fact, pushes investments rather than savings. Rahul Kanwal, Executive Director, Business Today and Siddharth Zarabi, Managing Editor, Business Today TV quizzed Finance Minister Nirmala Sitharaman on this shift and why was the government trying to change the ages-old practice of savings in banks and post offices. The Finance Minister also talked about how investments in the stock markets are much safer for retail investors with regulatory crack-downs and increased regulation.