National Savings Schemes

National Savings Schemes
National Savings Schemes

Shri Jayant Sinha, Minister of State in the Ministry of Finance has informed. Presently 13th National Saving Schemes (NSS) viz Post Office Savings Accounts, Time Deposits (1 year, 2 year, 3 year and 5 years), Monthly Income Scheme, Post Office Recurring Deposit Scheme, National Savings Certificate (VIII Issue), National Savings Certificate (IX Issue) [to be discontinued with effect from 20.12.2015], Kisan Vikas Patra Scheme, Public Provident Fund Scheme, Sukanya Samriddhi Account Scheme and Senior Citizens Savings Schemes are under operation.

There has been no reduction in the amount being deposited under the NSS. In fact, the gross collection figures have risen during the last three years as under:

Rs. in crores

Year Deposits (gross collection)
2012-13 234152.69
2013-14 250421.04
2014-15 304733.82
2015-16 (upto October 2015) 211977.52

The NSS are available for all Indian Nationals in rural areas as well as urban areas. However, these schemes are mainly operated through Post Offices which have large network in rural areas. At present, the Government has no proposal to bring a new small savings policy for senior citizens and weaker sections.

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