On the recent development of finance minister approving Rajiv Gandhi Saving Scheme for Mutual Fund,Sundeep Sikka, CEO, Reliance Capital Asset Management said "This is a great move for the Indian equity markets and also for the mutual fund industry. We welcome the measures proposed by Finance Minister to promote the Industry. This will encourage growth and enhance retail participation in mutual fund industry. This step will encourage the flow of savings in financial instruments and improve the depth of domestic capital market.