UPSC (Union Public Service Commission) is one of the most prestigious exams in India that many aspire to crack. The UPSC exam is conducted to recruit candidates for various government posts. The exam is known for its high difficulty level and requires extensive preparation. One of the critical areas where candidates need to stay updated is current affairs.
Sukanya Samriddhi Yojana UPSC
Sukanya Samriddhi Yojana is a savings scheme launched by the Government of India in 2015 to encourage parents to save for the education and marriage expenses of their girl child. The scheme offers a high rate of interest and income tax benefits to the account holder.
Under the Sukanya Samriddhi Yojana, parents or legal guardians can open an account in the name of a girl child below the age of 10 years. The account can be opened with a minimum deposit of Rs. 250 and a maximum deposit of Rs. 1.5 lakh in a financial year. The account matures after 21 years from the date of opening or on the marriage of the girl child after she attains the age of 18 years.
The current rate of interest on Sukanya Samriddhi Yojana accounts is 7.6% per annum, which is compounded annually. The interest earned on the account is tax-free, and the deposits made in the account are eligible for tax deductions under Section 80C of the Income Tax Act, 1961.
The scheme also allows partial withdrawals for the purpose of higher education or the marriage of the girl child after she attains the age of 18 years. However, the amount of withdrawal is limited to 50% of the balance in the account at the end of the preceding financial year.
Overall, the Sukanya Samriddhi Yojana is a great savings scheme for parents looking to secure their daughter’s future education and marriage expenses while also getting tax benefits and a high rate of interest.
Sukanya Samriddhi Yojana for UPSC Notes
Sukanya Samriddhi Yojana is a significant scheme that candidates must be aware of while preparing for the UPSC exam. The scheme was launched in 2015 by the Government of India to encourage parents to save for the education and marriage expenses of their girl child. The scheme offers a high rate of interest and income tax benefits to the account holder.
The scheme is a part of the government’s ‘Beti Bachao Beti Padhao’ campaign and has been a significant initiative towards the education and empowerment of the girl child.
Here are some more points to add to the Sukanya Samriddhi Yojana for UPSC Notes:
- Eligibility – The Sukanya Samriddhi Yojana account can be opened only for a girl child below the age of 10 years. A parent or legal guardian can open only one account in the name of one girl child. In case of twins or triplets, the parents can open separate accounts for each child.
- Account operation – The account can be operated by the parent or legal guardian until the girl child attains the age of 10 years. After that, the girl child can operate the account herself.
- Account transfer – In case of the transfer of the account due to a change in the parent’s location or any other reason, the account can be transferred to any post office or bank where the scheme is available.
- Premature closure – In case of a premature closure of the account, the interest rate payable will be equivalent to the post office savings account interest rate. However, no interest will be paid if the account is closed before the completion of five years.
- Extension of account – In case of non-deposit of the minimum amount of Rs. 250 in any financial year, the account will be considered a default account. A default account can be regularized by paying a penalty of Rs. 50 per year along with the minimum deposit amount for the defaulted year. However, if the account is not regularized, it will be discontinued. A discontinued account can be revived by paying a penalty of Rs. 50 per year along with the minimum deposit amount for the defaulted year.
- Tax benefits – The deposits made in the Sukanya Samriddhi Yojana account are eligible for tax deductions under Section 80C of the Income Tax Act, 1961. The interest earned on the account is tax-free.
UPSC Current Affairs Preparation Tips
Preparing for the current affairs section of the UPSC exam is crucial as it carries significant weightage. Here are some tips for UPSC’s current affairs preparation:
- Stay updated with the latest news and events – Reading newspapers and watching news channels is a must to stay updated with the latest happenings.
- Follow current affairs magazines – Magazines like Yojana, Kurukshetra, and Frontline are excellent resources for current affairs preparation.
- Make notes – Note down important points and events while reading newspapers and magazines.
- Revise regularly – Revision is crucial to retain information. Revise the notes regularly to keep the information fresh in your mind.
UPSC Online Classes Benefits
UPSC online classes are a convenient and cost-effective way to prepare for the exam. Some of the benefits of online classes include:
- Flexibility – Online classes can be accessed from anywhere and at any time, providing flexibility to the candidates.
- Cost-effective – Online classes are generally less expensive than offline classes, making them more accessible to candidates from all backgrounds.
- Interactive – Online classes provide an interactive learning experience where candidates can ask doubts and interact with their teachers.
Conclusion
In conclusion, the Sukanya Samriddhi Yojana is a crucial scheme that candidates must be aware of while preparing for the UPSC exam. Candidates must stay updated with the latest current affairs and follow a structured preparation strategy to crack the exam. Online classes can be an excellent resource for candidates looking for a convenient and cost-effective way to prepare for the UPSC exam.
