Abstract
Economic development of a nation depends mainly on the financial system and the rate of new capital formation which form the backbone of the nation. This can be achieved by mobilizing savings and adopting a new investment pattern. Tax Saving Mutual Fund Schemes are one of the financial instruments which mobilize the funds from investors with the exemption of Tax payment. Investor expects other benefits like market oriented return, low risk, and safety on their investment. As such, analyses have been made in this paper to measure the volatility of Indian Mutual funds market by using standard deviation, Beta, GARCH and ARCH models. In particular 32 growth-oriented open-ended Tax Saving Mutual Fund Schemes have been analyzed. It is found that there is no volatility in tax saving mutual funds during the period of study.
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