Small Saving Schemes and Its Importance
Wójcik-Czerniawska Agnieszka
Wójcik-Czerniawska Agnieszka, PhD, Department of Economics and Finance of Local Government, Warsaw, Poland, College of Management and Finance
Manuscript received on 20 July 2022 | Revised Manuscript received on 07 May 2023 | Manuscript Accepted on 15 May 2023 | Manuscript published on 30 May 2023 | PP: 43-51 | Volume-3 Issue-1, May 2023 | Retrieval Number: 100.1/ijef.D2520111422 | DOI : 10.54105/ijef.B2520.03010523
Open Access | Editorial and Publishing Policies | Cite | Zenodo | Indexing and Abstracting
© The Authors. Published by Lattice Science Publication (LSP). This is an open-access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Public Provident Fund, Senior Citizens Savings Scheme, Post Office Recurring Deposit, and Sukanya Samriddhi Scheme are some of the government’s investment vehicles for persons who wish to deposit little amounts over time as they earn. Small savings schemes are what they’re called. Small Savings Schemes are a series of savings tools administered by the federal government to encourage residents of all ages to save consistently. They are attractive because they offer not just larger yields than bank fixed deposits, and also national assurance and tax advantages. These strategies ensure a high rate of return while reducing uncertainty. They can be set up in various forms, with monthly, quarterly, half-yearly, and yearly plans being the most common. Some of these plans might also help you save money on taxes.
Keywords: Saving Schemes, Tax, Government, Investment, Fixed Deposits
Scope of the Article: Economics