Union Budget 2023: 2-year small saving scheme for woman with 7.5 pc interest rate
Union Budget 2023-24: Finance Minister Nirmala Sitharaman presented the Union Budget 2023 on February 1, 2023 at 11 am in digital format.
During the Union Budget speech in the House, Union Finance Minister Nirmala Sitharaman on Wednesday announced a new small savings scheme - Mahila Samman Savings Patra for women and girls and girl child.
The Mahila Samman Savings Patra has fixed interest rate of 7.5% with partial withdrawal option for a woman up to Rs 2 lakhs for period of two years.
Finance Minister launched the scheme for women and girl for a period of two years i.e. till March 2025.
Meanwhile, India’s Union Budget 2023-24 also lays emphasis on strengthening and improving girl's participation in sport and investing in young sports women at the grassroots level.
FM Sitharaman also mentioned Deen Dayal Antyodaya Yojana that helped rural women into 81 lakhs of SHGs (Self Help Groups).
Union Budget 2023 also announced ‘Mission Shakti’ which aimed to protect women and make them self-sufficient. It's aimed at the financial independence of women and their empowerment.
This year's Budget holds much significance as the country is scheduled to have the next Lok Sabha election in April-May 2024.
Notably, this is the fifth budget presentation by Sitharaman.
This year's budget session is going to have 27 sittings till April 6 with a month-long recess to examine the budget papers. The first part of the session will conclude on February 13.
Also Read: FM Sitharaman to present Union Budget 2023-24 shortly
Parliament will reconvene on March 12 for the second part of the Budget Session and conclude on April 6.
- With inputs from agencies
