In this paper, an attempt has been made to evaluate the performance of thirty two growth oriented open ended equity linked savings schemes of tax saving mutual funds in India. Performance has been analyzed on the basis of monthly returns compared to Indian stock market Benchmark, S&P CNX nifty. For this purpose, Risk-adjusted performance measures suggested by Sharpe, Treynor and Jenson have been used. Last five years Net Asset Value of tax saving schemes from 2012-13to 2016-17 has been

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... All the schemes follow the same pattern in its return and moves along with the Stock market index and S&P CNX nifty. The average return of all the schemes is higher and average risk is lower than the Benchmark S&P CNX nifty.