• 9964432222
  • Mail Us
  • Appointment
  • Locate Us
  • Chat Now
  • Courses
  • Login
  • Register
Manifest IAS
JournalsOfIndia
Advertisement
  • Home
  • Economy
  • Foreign Affairs
  • Science & Tech
  • Environment
  • Law & Policy
  • History
No Result
View All Result
  • Home
  • Economy
  • Foreign Affairs
  • Science & Tech
  • Environment
  • Law & Policy
  • History
No Result
View All Result
  • 9964432222
  • Mail Us
  • Appointment
  • Locate Us
  • Chat Now
  • Courses
JournalsOfIndia
No Result
View All Result
Home Economy

Small Savings Scheme

October 1, 2020
in Economy
Reading Time: 2min read
0
Small Savings Scheme
69
VIEWS
Share on TelegramShare on Facebook

Small Saving Schemes (SSSs) are an important source of household savings in India. Different small saving schemes have mobilized money from households and channelized it to the government so that the centre and states can finance a part of their expenditure. The Central Government operates Small Savings Schemes (SSS) through the nationwide network of post offices, public sector banks, select private sector banks and small savings agents.

Different Schemes

  • Post Office Deposits: Post Office Savings Account, Post Office Time Deposits (1, 2, 3 and 5 years), Post Office Recurring Deposits, Post Office Monthly Account,
  • Savings Certificates: National Savings Certificate (VIII Issue) and Kisan Vikas Patra
  • Social Security Schemes: Public Provident Fund, Senior Citizens Savings Scheme and Sukanya Samriddhi Account

National Small Savings Fund (NSSF)

  • National Small Savings Fund (NSSF) was established in 1999 within the Public Account of India for pooling the money from different SSSs.
  • Collections from all small savings schemes are credited to the NSSF. Similarly, withdrawals under small savings schemes by the depositors are made out of this Fund.
  • The money in the account is used by the Centre and States to finance their fiscal deficit. The balance in the Fund is invested in Central and State Government securities.
  • Funds collected under SSS are the liabilities of the Union government accounted for in the Public Accounts of India and the government acts like a banker or trustee.
  • As per the recommendations of the 14th Finance Commission, the government has excluded states (except four states) from the use of Small Saving Scheme money. This is because the SSSs have slightly higher interest rates than the loans procured by states.
  • The NSSFs will be used by the centre and the interest and principal will be the liability of the central government. Previously, states have used the proceeds from NSSF.
Tags: Prelims

Related Posts

India innovation Index 2020

India innovation Index 2020

January 20, 2021
Trade Receivables Discounting System (TReDS)

Trade Receivables Discounting System (TReDS)

January 20, 2021
Credit Ratings

Credit Ratings

January 19, 2021
Prarambh -Startup India International Summit

Prarambh -Startup India International Summit

January 16, 2021
Reforms in Mining

Reforms in Mining

January 15, 2021
RBI sets up Working Group on Digital Lending

RBI sets up Working Group on Digital Lending

January 15, 2021
What are Debentures?

What are Debentures?

January 15, 2021
Modified Scheme to Enhance Ethanol Distillation Capacity

Modified Scheme to Enhance Ethanol Distillation Capacity

January 15, 2021
National Migrant Information System (NMIS)

National Migrant Information System (NMIS)

January 14, 2021
Toy Manufacturing Clusters

Toy Manufacturing Clusters

January 14, 2021
Please login to join discussion

Browse by Category

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society

Browse by Tags

AIR Big Picture GS-1 GS-2 GS-3 GS-4 Kurukshetra Mains News Paper PIB Prelims RSTV Yojana
JournalsOfIndia

Our vision is to orient the readers to grasp the facts objectively and analyse critically. In the rush of reaching first to the readers, the websites miss the balanced opinion, which is the need of the hour. We aim to reach the readers with more crispness, preciseness and relevance. We bring the articles in UPSC way for the civil services aspirants and the Wisest Way for general readers.

Categories

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society

Browse by Tag

AIR Big Picture GS-1 GS-2 GS-3 GS-4 Kurukshetra Mains News Paper PIB Prelims RSTV Yojana

Newsletter

The most important UPSC news and events of the day.

Get Journals daily newsletter on your inbox.

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

  • Login
  • Sign Up
  • Home
  • Prelims Snippets
  • Mains Articles
  • Economy
  • Society
  • Foreign Affairs
  • Science & Tech
  • Environment
  • Agriculture
  • History
  • Law & Policy
  • Security
  • Course Portal
  • Prelims Test Portal
No Result
View All Result

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In