Arnav Deshmukh, 22, who recently graduated from IIT-Madras and is a scientist with the Indian Space Research Organisation, plans to go on an extended tour of Europe after two years. And while many in his age group might be quite happy to swipe their credit cards or take personal loans to achieve this goal, Deshmukh has started saving 30 per cent of his monthly salary in equity-linked savings schemes (ELSS).
The only problem with this plan is the choice of instrument. While ELSS is an excellent tax-saving instrument for long-term saving, it is not the best instrument for meeting ...
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