On February 1, Wednesday, Finance Minister Nirmala Sitharaman announced a one-time small savings scheme Mahila Samman Bachat Patra. This Patra or certificate will be available for a period of two years up to March 2025. This scheme would provide a deposit facility for a woman or girls up to Rs. 2 lakhs for a two-year term at a set interest rate of 7.5% with a partial withdrawal option in a bid to financially empower women.
The initiative is being launched to commemorate ‘Azadi Ka Amrit Mahotsav’. “One-time new small saving scheme under ‘Mahila Samman Saving Certificate’ will be made available up till March 2025. This will offer a deposit facility of up to Rs 2 lakh for the women and girls for a tenure of two years, with a fixed rate of interest 7.5% with a partial withdrawal option,” FM Sitharaman announced.
For commemorating #AzadiKaAmritMahotsav, a one time new small savings scheme ‘Mahila Samman Bachat Patra’ will be made available up till March 2025
— PIB India (@PIB_India) February 1, 2023
This will offer deposit facility up to ₹2 Lakhs at a fixed interest rate of 7.5% with partial withdrawal option #AmritKaalBudget pic.twitter.com/jxyqgBEXjv
The Senior Citizens’ Savings Scheme’s (SCSS) maximum deposit amount was increased by the Finance Minister from 15 lakhs to 30 lakhs.
Senior Citizen Savings Schemes (SCSS) limit has been doubled
— CA Kanan Bahl (@BahlKanan) February 1, 2023
From ₹15L to ₹30L
Fixed income instruments are preferred by Senior citizens#SCSS provides ~8% p.a. interest#BudgetWithKB
As part of the Monthly Income Accounts Scheme, she also announced an increase in the maximum deposit limits from 4.5 lakhs to 9 lakhs for single accounts and from 9 lakhs to 15 lakhs for joint accounts.
Monthly Income Scheme limit doubled to Rs 9 lakh and Rs 15 lakh for joint accounts
— Press Trust of India (@PTI_News) February 1, 2023
Earlier while speaking about the growing economy of India, the Finance Minister said that the world has recognized the Indian economy as a bright star.
#Budget2023
— PIB India (@PIB_India) February 1, 2023
“The world has recognized India as a bright star, our growth for current year is estimated at 7.0%, this is the highest among all major economies, in spite of massive global slowdown caused by pandemic and the war”#AmritKaalBudget
She said, “Our current year’s economic growth is estimated at 7%. Notably, this is the highest among all the major economies. This is despite the massive slowdown globally caused by Covid-19 and the war. The Indian economy is therefore on the right track and despite the time of challenges, heading towards a bright future.”
