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Beti Bachao Beti Padhao Yojana – Sukanya Samridhi Yojna Scheme Benefits

Beti Bachao Beti Padhao Yojana

The best initiative taken by the Government of India is to launch a programme titled as Beti Bachao Beti Padhao Yojana. This scheme was launched by the government on 22 January 2015 with the motive to generate awareness and develop effectiveness of welfare services meant for women. This is Prime Minister’s pet project known to be as save daughter, educate daughter whose title itself conveys the message to save and empower the girl child.

Prime Minister Shri Narender Modi scheme has resulted in a positive manner and it focuses on intervention and multi-section action in almost 100 districts with low child sex ratio (CSR). This scheme has been introduced with the intention of eradication of inhuman process of female feticide and honor killing like practices.

With increase in awareness of programme, these practices are also not having any declination in number.  So, it is a high time and there is vast need to people for changing their mind set and aware others regarding the scheme.

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For enhancement of this scheme government has introduced a new scheme as Sukanya Samridhi Yojna Scheme. It is part of “Beti Bachao – Beti Padhao” initiative which aims to address the gender imbalance and create a positive environment in favor of Girl Child.

Here on below of this page team of has modified some benefits Sukanya Samridhi Yojna. Both financial and non-financial benefits of Sukanya Samriddhi Account are uttered below. So, please have look…

Beti Bachao Beti Padhao Yojana

1.) Highest Interest Rate among all Small Savings Schemes offered by GOI:

Sukanya Samriddhi Account will offer an interest rate of 9.1% and it is highest among all Small Savings Schemes. The Interest Rate applicable for the Financial Year will be declared every year by the Govt of India. Interest will be compounded yearly i.e. will be credited on a yearly basis. It will be accrued on a monthly basis on the lowest balance between 5th and last day of the month.

2.) Tax Savings:

Here yet another benefit of this scheme is that it will encourage people to open a Sukanya Samriddhi Account as Govt has exempted contribution to this account u/s 80C of the Income Tax Act, 1961.

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3.) Lock-in Period:

Lock-in Period maturity time will be 21 years from the date of opening of the account or Marriage of the Girl Child, Whichever is earlier. For marriage, girl should be of 18 years at the time of marriage. The operation of account is not permitted beyond the date of marriage.

If funds are required for higher education, then only one premature withdrawal is allowed on girl attaining the age of 18 years. Untimely withdrawal is restricted to 50% of the balance at the end of preceding financial year.

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4. Purpose of Sukanya Samriddhi Account:

As only objective of Sukanya Samriddhi account launching is financial planning for the marriage of Girl Child. Socially it is conveying that marriage or education of a girl child is not a financial burden if parents plan well in advance.

So, parents cannot withdraw the money for any other purpose except marriage or for higher education of Girl Child with the inclusion of lock-in period.

5. Maturity Proceeds to be paid to Girl Child:

As the maturity period of Sukanya Samriddhi Account will end the account balance along with accrued interest will be paid directly to the account holder i.e. Girl Child. It provides financial assistance to girl child which is currently lacking in India.

6. Interest to be paid even after Maturity:

An exclusive trait of Sukanya Samriddhi Account is that even after maturity if the account is not closed by the account holder, Interest shall be payable in the account till final closure of the account.

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7. Flexibility to operate Sukanya Samriddhi Account:

Lot of flexibility has been given by government of India, in terms of account operations. Few of them are listed below.

1.) Government has directed that account can be opened with an initial deposit of Rs 1000 and after that any amount in multiple of Rs 100 can be deposited subject to max limit of 1.5 lakh during the financial year. Every FY, a minimum sum of Rs 1000 should be deposited to keep account operative. In the case of two daughters i.e. two Sukanya Samriddhi Accounts, the cumulative contribution cannot exceed 1.5 lakh during Financial Year.

2.) On attaining age of 10 years, a girl child can operate her account

3.) Account can be closed if it is proved that account is causing undue hardship to the account holder

4.) Account can be transferred anywhere in India.

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Frequently Asked Questions for Sukanya Samriddhi Yojana:

Question1): Till when I can open account under this scheme. Time / date limit?

Answer: One can open an account anytime during the year, provided the age limit of the girl child is within specified range under this scheme.

Question2): If the Parents have 2 daughters, can both father and mother be nominated for 2 daughters separately?

Answer: Yes, definitely it is possible as father can be nominated as guardian for one daughter and mother can be nominated for one daughter. So the both father and mother can get tax exemption benefits in this case u/s 80C.

Question3): Sometimes SBI branch and Post office wants to verify the identity of baby physically. Is it right?

Answer: this is basically depends upon the procedure of Sukanya Samriddhi Account to restrict fraud or miss-presentation of guardians or parents. You have to co-operate them for all Account opening formalities.

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Question4): Can I transfer my SSA account from one post office branch to another branch.

Answer: Yes. You can transfer the Sukanya Samriddhi account to another post office, if they are not co-operating you properly.

Question5): What are the documents required to open SSA?

Answer: Individual is required to provide Date of birth certificate of the girl child, 2 passport size photographs and ID proof of parent or guardian.

Question6): If I forget to invest any money in any year what will happen?

Answer: If anyhow you forget to pay installment any year then you have to pay a penalty of Rs.50 and reactivate your account and start it from where it was stopped.

Question7): What will happen if girl child dies unfortunately?

Answer: on occurrence of any such type of incident SSA will be closed immediately and funds will be returned to the nominee.

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The main motive of this article is “Educate your girl like you do for your son”. This will help you and even the society to grow more. In many countries boys are preferred to girls and therefore girls are being aborted. SAY NO TO “Girls Infanticides”.

Peoples of Ancient Times think that girls are of “No Use” but it’s not so. Now in today’s scenario if you are living with every modern facility like good attires, expensive mobile phones, branded shoes and soo on…So, why can’t you change thinking and except the GIRLS same way as boys. Girls are the spirit of nation and bring Joys; she is no less than boy.

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