Prime Minister Narendra Modi will launch an ambitious scheme called ‘Sukanya Samruddhi Account’ alongwith ‘Beti Bachao-Beti Padhao’ scheme from Haryana’s Panipat on January 22. The ‘Sukanya Samruddhi Account’ scheme will address the gender imbalance and discrimination by creating a positive environment in favour of the girl child.
An official spokesman of Haryana Government said that under the ‘Sukanya Samruddhi Account’ scheme of Union Government, the account can be opened from the birth of the girl child till she attains the age of 10. A girl child who attained the age of 10 years, one year prior to notification will also be eligible. The account can be opened with an amount of Rs1,000 and in a financial year investment ceiling is Rs1.5 lakh. The investments floor in a financial year is Rs1,000.
The exemption on investments made under the scheme will also be eligible for exemption under 80C of Income Tax Act, 1961. Similarly, issue of making interest income and withdrawal exempt from taxation can be done by Department of Revenue (DoR) through legislative amendments. The matter is under examination of DoR, added he.
“For Current Financial Year, the interest rate works out to 9.1 per cent. For sake of simplicity manner of calculation of interest will be similar to Public Provident Fund (PPF). Contextually, this is one of the highest rates of interest rate offered by Government on small savings scheme. The child can close the account earliest at the age of 21 years with option of keeping the account till marriage,” said the spokesperson.