Day-by-day inflation has become very expensive to make a living. In such a situation, it is not less of a challenge for lower-middle-class families to spend on their children for good education, financial future and marriage etc. It has always been seen that daughters' parents are more concerned about this matter. That is why they always look for safer investment options. Sukanya Samriddhi and Balika Samriddhi Yojana are schemes through which parents can do good planning for the future of their daughters. The best part is that these are both government schemes.
Sukanya Samriddhi Yojana This scheme was introduced by the government in the year 2015. The aim of the scheme is to make parents aware of investing in daughters' education and marriage. The benefit of this scheme can be availed through the post office. In the October to December quarter, interest in this scheme is kept at 7.9 percent for all accounts. Along with this, parents can apply for tax exemption of up to 1.5 lakh in the respective financial year.
In this scheme, after the age of 18 years, 50 percent of the balance can be withdrawn for the expenses of higher education. In this scheme, both interest income and maturity amount are tax deductible. A minimum of Rs 1,000 is required to be deposited in this account every year. Talking about the maximum amount, then 1.5 lakh rupees can be deposited in this account in a year. A maximum of three Sukanya Samriddhi accounts can be opened in a family when the first or second daughter is a twin.
Balika Samridhi Yojana The scheme was introduced with the aim of supporting childbirth, newborn and her education. In this, the mother is given 500 rupees as a gift from the government after delivery in rural and urban areas. Under this scheme, the girl child is also awarded scholarship every year during schooling. In rural areas, the scheme is implemented by the ICDS and in urban areas by the Department of Health. This scheme is mainly made for BPL families. At the same time, only two daughters of a family can benefit from this scheme.
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