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Fixed deposits aren't enough, senior citizens must invest in other avenues

The elderly could use the extra Rs 50,000 deduction on interest income, but must also explore instruments like SCSS, PMVVY and equity mutual funds

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Alternative Investment Avenues Senior Citizens

Sanjay Kumar Singh  |  New Delhi 



investment, senior citizens
Image: iSTOCK

The Union Budget has allowed a tax deduction of up to Rs 50,000 to senior citizens on interest earned from deposits in banks, post office and co-operative banks. While senior citizens should take full benefit of this deduction, they should not overlook the need for a diversified portfolio to help them beat inflation.

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First Published: Sun, February 18 2018. 19:51 IST

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