Saving Schemes, Saving Schemes in India. Savings has an important place in the mobilization of resources for development expenditure because the investors would not only get back their money ,but also some interest and they would therefore prefer to lend money in this way instead of paying it as outright tax.
Further in a developing economy in which there will be always surplus money available with some sectors to the extent that the savings are tapped the money available for circulation is taken away and to that extent pressure on prices and inflationary trend is reduced. So therefore savings have got a very important role to play in the sphere of economy. LEARNMORE: Expand Your Legal Mind.