New Delhi, April 4 :    New Delhi, April 4:  The government feels that in a low interest and low tax regime, savings should come naturally as an economic decision rather than a directed action. There is a need to shift away from a directed savings regime where savings takes place largely because of tax exemptions. C.M. Betgiri, member-legislation, Central Board of Direct Taxes, said: 'In a low interest and low tax regime, savings should be an economic decision only and not prompted by tax exemption. This was the philosophy behind the budget this year.' The government officials present at a discussion on Finance Bill also said, 'The demand for the reintroduction of investment allowance and for higher depreciation as an incentive to modernise plants and machinery, is not acceptable because the Chelliah Committee report found that such allowance was not effective in generating new investment.' The Chelliah Committee had also suggested that the provisions for charitable trusts should be relaxed and there was a need to make the law uniform for all charitable organisations irrespective of dates on which they were set up. Industry demanded that the stringent stipulations for charitable and religious trusts should be removed, but government officials felt 'a massive task cannot be undertaken solely by the government. We will have to examine it on the basis of various representation received from eminent charitable institutions.' Other countries do provide incentives to encourage people to invest in charitable and religious trusts without much restrictions. Indian companies want to follow the same route.