Union Budget 2023: Bunch Of Announcements For Women, Senior Citizens, Attempts To Target Middle Class


Double the maximum amount of money in Senior Citizen Saving Scheme, Mahila Samman Saving Certificate. A bunch of announcements by Nirmala Sitharaman (Nirmala Sitharaman announces new Savings Scheme).

New Delhi, February 1: Wednesday’s budget seeks to win over the middle class. Nirmala Sitharaman has announced a bunch in the budget for women and senior citizens. A ‘Mahila Samman Saving Certificate’ is being launched with a fixed interest rate of 7.5 per cent for two years, the Union Finance Minister said. At the same time, he informed that the maximum amount invested in the Senior Citizen Saving Scheme (SCSS) has now been doubled from Rs 15 lakh to Rs 30 lakh.

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Nirmala gave a budget speech for about one and a half hours on this day. In a long speech, he said, “The maximum deposit limit of Senior Citizen Savings Scheme will be increased from Rs 15 lakh to Rs 30 lakh.” At the same time, he proposed that the maximum deposit limit for the monthly income account scheme would be increased from Rs 4.5 lakh to Rs 9 lakh for a single account and from Rs 9 lakh to Rs 15 lakh for a joint account.

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At the same time Sitharaman announced ‘Azadi Ka Amrit Mohotsav Mahila Samman Bachat Patra’ (Women’s Respect Saving Certificate). The Union Finance Minister said, “This is a one-time new small savings scheme. Mahila Samman Savings Certificate, will be made available for two years till March 2025. It will provide a deposit facility of up to Rs 2 lakh in the name of women or girls for 2 years at a fixed interest rate of 7.5 per cent. .”

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Sitharaman also announced that an integrated IT portal will be set up for investors to recover unclaimed shares and unpaid dividends from the Investor Education and Protection Fund Authority.

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