These days women of India are also self dependent and they are capable to take their financial decision. To improve the financial condition of women government of India is doing lots of affords. Under these affords government launch many government scheme for women and girls Childs. The government is doing everything possible to encourage the participation of women and is constantly trying to provide various financial benefits for women in the country.

Several financial and life insurance institutes offer special plans to promote financial independence and stability of women in society:

  1. Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana is a small scale savings plan for the education and marriage of daughter. It is part of the government’s Beti Bachao and Beti Padhao mission.

  1. National Pension Plan

It is a voluntary pension plan introduced with the objective of satisfying retirement needs. It is regulated by the Pension Fund Regulation and Development Authority (PFRDA) that provides tax benefits for investments of up to Rs 50,000 in the 80CCD section in addition to Rs 150000 in section 80C. Therefore, your total annual deduction reaches Rs 200000.

  1. Pradhan Mantri Jan Dhan Yojana

This is suitable for economically weaker sectors of society that do not even have a bank account. Pradhan Mantri Jan Dhan Yojana offers basic financial services such as a savings account, a deposit account, insurance, a pension, remittances, etc.

  1. Public Pension Fund (PPF)

It is a long term savings plan backed by the government that aims to benefit self-employed people to save for retirement. It offers tax benefits below 80 C of the Income Tax Law and provides a tax free refund. You can also open a PPF account for your wife and children under this scheme

  1. National Savings Certificate (NSC)

The National Savings Certificate is a small scale savings investment and tax savings in India. It is a government savings bond issued for a period of five and ten years and is very popular among the rural masses. You can buy this voucher at any post office in India and you can keep it as a guarantee to obtain a loan from the banks.

These social security schemes serve a number of women of society and offer different returns. So think carefully before investing in any of the mentioned schemes to optimize your returns and tax benefits.

Leave Your Reply