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New Delhi: An SBI Research report published ahead of the Union Budget 2023-24 that will be tabled today has said that small savings schemes like Sukanya Samriddhi Yojana can get a boost. As per the report, the government will continue to rely on these small saving schemes for financing the fiscal deficit which is likely to be pegged at 6 per cent for FY24.
The government can give a hard push to schemes like SSY (Sukanya Samriddhi Yojana) by encouraging fresh registrations in a mission drive mode.
If the government encourages fresh registrations for Sukanya Samriddhi Yojana and other small saving schemes, in a mission-drive mode, it can give a big push to these schemes.
“It can give a hard push to SSY (Sukanya Samriddhi Yojana), through encouraging fresh registrations in a mission drive mode, allowing one time registrations for all leftover cases up to 12 years,” the report said. It also added that the business correspondents can be roped in by the banks since their share is lower than post offices.
Sukanya Samriddhi account can be set up at a minimum investment of Rs 250 and a maximum of Rs 1,50,000 a financial year. The scheme has tax benefits too. Taxpayers can claim deductions for investing in Sukanya Samriddhi Yojana under section 80C of the Income Tax Act.
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