New Delhi: A big announcement has been made for women in the Union Budget presented by the central government today. Finance Minister Nirmala Sitharaman has announced Mahila Samman Bachat Patra. This is a lump sum new small savings scheme. It can be invested for a period of two years till March 2025.
This initiative will give a woman an opportunity to earn a substantial return on a deposit facility of up to two lakh rupees for a period of two years. In this scheme, money will be available at a fixed interest rate of 7.5% with partial withdrawal option. Deposit can be made in the name of woman or girl child.
Gifts for senior citizens too
This initiative has been started to celebrate the Amrit Mahotsav of Independence. The Finance Minister increased the maximum deposit level of the Senior Citizens’ Savings Scheme from ₹15 lakh to ₹30 lakh. He also announced an increase in the maximum deposit limit for Monthly Income Account Scheme from Rs 4.5 lakh to Rs 9 lakh for single accounts and from Rs 9 lakh to Rs 15 lakh for joint accounts.