NEW DELHI: Finance Minister Nirmala Sitharaman in her 2023 Union Budget speech announced the setting up of a new, one-time savings scheme for women and girls, namely "Mahila Samman Bachat Patra" (savings certificate) The scheme will have a deposit facility of up to Rs.2 lakh for women.

The savings plan will be in effect for two years, or until March 2025. It will offer a partial withdrawal option as well as a 7.5% fixed interest rate to the beneficiaries.

The Finance Minister also announced changes to the Senior Citizen Savings Scheme. The scheme's maximum deposit amount would increase from Rs. 15 lakh to Rs. 30 lakh.

The FM disclosed an increase in the Monthly Income Account Scheme's top deposit limit. For single accounts, this will rise to Rs. 4.5 lakh; for joint accounts, it will rise to Rs. 9 lakh; and for both, to Rs. 15 lakh.

The announcements were made under the financial sector priorities envisioned for the 2023 Union Budget. The 2023 Budget has been divided into 7 priorities as part of “Amrit Kaal”.

 She said that the seven priorities listed by the government represent the “Saptarishi” (7 seers) guiding India’s growth during “Amrit Kaal”. Other than the financial sector, the remaining priorities are: "Development Inclusive , Reaching the last mile, Infrastructure & investment, unleashing  green growth, potential and youth power.
 

MP CM says Budget 2023 would take India forward the welfare of poor

Budget 2023: Data Governance Policy will be brought out...

Budget FOCUS: Railway gets Highest-ever capital outlay of Rs2.40-La-Cr

Budget HIGHLIGHTS: FM announces PM-VIKAS package for artisans, craftspeople