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Which of the following instruments are included under small saving schemes?
1. National Saving Certificate (NSC)
2. Public Provident Fund (PPF)
3. Kisan Vikas Patra (KVP)
4. Sukanya Samridihi Scheme
Select the correct answer code:
- a)1, 2, 3
- b)1, 3, 4
- c)1, 2
- d)1, 2, 3, 4
Correct answer is option 'D'. Can you explain this answer?
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Which of the following instruments are included under small saving sch...
The Government kept the interest rates on small savings schemes unchanged for the September-December period. Small savings rates are reviewed every quarter and this is the sixth consecutive quarter that the government has maintained the rates.
The small savings schemes basket comprises 12 instruments including the National Saving Certificate (NSC), Public Provident Fund (PPF), Kisan Vikas Patra (KVP) and Sukanya Samridihi Scheme.
Most Upvoted Answer
Which of the following instruments are included under small saving sch...
The correct answer is option 'D' i.e. 1, 2, 3, 4.
The small saving schemes in India are designed to provide individuals with safe and attractive investment options. These schemes are backed by the government and offer fixed returns. Some of the popular small saving schemes in India include the National Saving Certificate (NSC), Public Provident Fund (PPF), Kisan Vikas Patra (KVP), and Sukanya Samridhi Scheme.
1. National Saving Certificate (NSC):
- The National Saving Certificate is a fixed-income investment scheme that is available in post offices across India.
- It is a government-backed savings instrument that offers a fixed interest rate.
- The maturity period for NSC is 5 years, and the interest rate is revised by the government from time to time.
- The interest earned on NSC is eligible for tax deduction under Section 80C of the Income Tax Act.
2. Public Provident Fund (PPF):
- The Public Provident Fund is a long-term saving scheme that encourages individuals to invest for their retirement.
- It has a maturity period of 15 years, which can be extended in blocks of 5 years.
- The PPF offers a fixed interest rate, which is revised by the government on a quarterly basis.
- Contributions made to PPF are eligible for tax deduction under Section 80C, and the interest earned is tax-free.
3. Kisan Vikas Patra (KVP):
- The Kisan Vikas Patra is a savings scheme that was initially designed for farmers.
- It offers individuals a safe and secure investment option with a fixed interest rate.
- The maturity period for KVP is 124 months, and the interest rate is revised by the government.
- KVP certificates can be purchased from post offices and are transferable.
4. Sukanya Samridhi Scheme:
- The Sukanya Samridhi Scheme is a small saving scheme specifically designed for the benefit of the girl child.
- It aims to promote the welfare and education of the girl child.
- The scheme offers a higher interest rate than other small saving schemes.
- The maturity period for the scheme is 21 years or until the girl child gets married, whichever is earlier.
- Contributions made to the Sukanya Samridhi Scheme are eligible for tax deduction under Section 80C, and the interest earned is tax-free.
In conclusion, all the instruments mentioned in the options - National Saving Certificate (NSC), Public Provident Fund (PPF), Kisan Vikas Patra (KVP), and Sukanya Samridhi Scheme - are included under small saving schemes in India. These schemes provide individuals with safe and attractive investment options to meet their financial goals.
The small saving schemes in India are designed to provide individuals with safe and attractive investment options. These schemes are backed by the government and offer fixed returns. Some of the popular small saving schemes in India include the National Saving Certificate (NSC), Public Provident Fund (PPF), Kisan Vikas Patra (KVP), and Sukanya Samridhi Scheme.
1. National Saving Certificate (NSC):
- The National Saving Certificate is a fixed-income investment scheme that is available in post offices across India.
- It is a government-backed savings instrument that offers a fixed interest rate.
- The maturity period for NSC is 5 years, and the interest rate is revised by the government from time to time.
- The interest earned on NSC is eligible for tax deduction under Section 80C of the Income Tax Act.
2. Public Provident Fund (PPF):
- The Public Provident Fund is a long-term saving scheme that encourages individuals to invest for their retirement.
- It has a maturity period of 15 years, which can be extended in blocks of 5 years.
- The PPF offers a fixed interest rate, which is revised by the government on a quarterly basis.
- Contributions made to PPF are eligible for tax deduction under Section 80C, and the interest earned is tax-free.
3. Kisan Vikas Patra (KVP):
- The Kisan Vikas Patra is a savings scheme that was initially designed for farmers.
- It offers individuals a safe and secure investment option with a fixed interest rate.
- The maturity period for KVP is 124 months, and the interest rate is revised by the government.
- KVP certificates can be purchased from post offices and are transferable.
4. Sukanya Samridhi Scheme:
- The Sukanya Samridhi Scheme is a small saving scheme specifically designed for the benefit of the girl child.
- It aims to promote the welfare and education of the girl child.
- The scheme offers a higher interest rate than other small saving schemes.
- The maturity period for the scheme is 21 years or until the girl child gets married, whichever is earlier.
- Contributions made to the Sukanya Samridhi Scheme are eligible for tax deduction under Section 80C, and the interest earned is tax-free.
In conclusion, all the instruments mentioned in the options - National Saving Certificate (NSC), Public Provident Fund (PPF), Kisan Vikas Patra (KVP), and Sukanya Samridhi Scheme - are included under small saving schemes in India. These schemes provide individuals with safe and attractive investment options to meet their financial goals.
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Which of the following instruments are included under small saving schemes?1. National Saving Certificate (NSC)2. Public Provident Fund (PPF)3. Kisan Vikas Patra (KVP)4. Sukanya Samridihi SchemeSelect the correct answer code:a)1, 2, 3b)1, 3, 4c)1, 2d)1, 2, 3, 4Correct answer is option 'D'. Can you explain this answer?
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