How can I double Rs 5 lakh in five years?

I currently have around Rs 5 lakh. Please advise that how should I invest it to double the amount in the next five years.
--Abhishek Sinha

Abhay Shah, a Certified Financial Planner, responds:

We cannot assure that to you in mutual funds. But as per the past performance, we can assume 15 per cent returns which will let you reach a target of Rs 10 lakh.


You can consider investing in infrastructure sector for the next five years as I believe that this sector has underperformed the most in the past six to eight years. Though it has given a CAGR of more than 20 per cent, I believe it has a potential to outperform.

On a conservative note, you will be able to achieve your target by this investment. We will recommend you to invest in Kotak Infrastructure and Economic Reform Fund.