Equity: Growth stocks - 70, Value stocks - 20,Defensive stocks - 10
Mutual Funds: Growth Fund - 80 Income Fund - 20

As a person with age on your side and with minimum responsibilities, investing a majority of your savings in equity maximizes returns and adds to your wealth. The investment in equity can be divided among growth stocks (70%) Value stocks (20%) Defensive stocks (10%)
Investing in bonds and debentures (11%) will provide stable returns and diversify your risk. Mutual funds offer both returns and security for your investment and hence an optimum proportion of 8% is suggested. This is further divided among growth funds (80%) and income funds (20%) 8% of your surplus funds can be held in cash. Gold is an international asset and hence 5% of your income can be invested in gold.

Investing in insurance and tax saving instruments (provident fund, equity linked saving schemes etc) will provide tax shelter.

The starting point for Portfolio Planning is here.