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Nirmala Sitharaman announces new savings scheme for women

Vivid News 24: During her first Budget speech in Amrit Kaal on Wednesday, Finance Minister Nirmala Sitharaman introduced the Mahila Samman Bachat Patra, a one-time small savings initiative with a predetermined interest rate of 7.5% for two years. This Patra or certificate will be valid from March 2025 for a two-year term.

The deposit can be made in a woman’s or a girl’s name. The scheme will also allow partial withdrawals, and the maximum deposit amount has been fixed at Rs 2 lakh. “New little one-time savings made through Mahila Samman Saving Patra. According to Sitharaman, the deposit facility for women and girls will be available for two years at a 7.5% interest rate.

She continued by stating that the Deendayal Antyodaya Yojana National Rural Livelihood Mission, which strives to economically empower women, was able to develop 81 lakh self-help organizations by mobilizing rural women.

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By developing enormous producer enterprises or collectives, each with several thousand members, we will assist these organizations in moving toward the next stage of economic empowerment, she stated. Small farmers have received more than Rs 2.25 lakh crore in financial aid through the PM-Kisan Samman Nidhi program.

The scheme has given almost three crore women farmers Rs 54,000 crore, according to the finance minister. The maximum amount that may be invested in the senior citizen saving scheme (SCSS) has also increased from Rs 15 lakh to Rs 30 lakh, according to Sitharaman. The postal monthly income program’s cap was also increased.

The maximum investment in a single name is now Rs. 9 lakh, up from the previous cap of 4.5 lacks. The raising of restrictions has been a solace for investors looking for a reliable income during times of high inflation. Since a sovereign is backing the schemes, there is no credit risk.

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Vivid News-24 Desk
Vivid News-24 Deskhttps://vividnews24.com
Vivid News-24 News India's new growing news website. Which provides some specific categories of news, top world news, entertainment, sports, new technology, politics etc.
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