At a time when most fixed income instruments are offering negative real returns, small saving schemes are offering positive real returns
Gross collection from Bengal in pandemic-crippled FY21 stood at Rs 1,20,496 crore, which is almost 16% up from Rs 1,03,972 crore in FY20
The government did not cut the rate of interest on small savings instruments for July-September quarter
We must realise that the conventional mechanism to provide support by offering high small saving rates is problematic for numerous reasons
Small savings schemes news updates: Interest rates were slashed between 240-300 basis points over 9 years on different schemes
Sukanya Samriddhi Yojana details: There is no limit on a number of deposits made in a month or a financial year
These accounts give you high return as well as various tax benefits and should not be allowed to lapse
Apart from the savings bank interest rates in post offices, all instruments have suffered a sharp drop in interest rates over the past one decade
Roiled by falling rates of savings schemes, citizens are looking beyond them now but majority are still dependent on returns generated by the schemes
West Bengal accounts for the highest collection of about Rs 90,000 crore from small savings schemes such as NSC and PPF among the states and union ter