Theย Sukanya Samriddhi Yojana (SSY)ย stands as a ray of hope and empowerment for millions of young girls across India, encapsulating the Governmentโs unwavering commitment to nurturing their dreams and aspirations. Read here to learn more.
22nd January 2025, marks theย 10 years ofย Sukanya Samriddhi Yojanaย encouraging families to invest in the bright futures of their daughters, fostering a culture of inclusion and progress.
The Sukanya Samriddhi Yojana (SSY) has proven to be a transformative initiative under the broader Beti Bachao, Beti Padhao campaign, aimed at ensuringย girls’ย financial security and social empowerment in India.
Sukanya Samriddhi Yojana (SSY)
- Purpose:
- Designed to support the education and marriage expenses of a girl child.
- Promotes savings for the future well-being of girls.
- Implementing Ministry: Union Ministry of Finance
- Eligibility:
- The account can be opened for a girl child below the age of 10 years.
- Opened in a post office or authorized commercial banks.
- Only one account per girl child is permitted.
- A family can open a maximum of two accounts (one for each girl child in the case of two daughters).
- Deposits:
- Minimum Deposit: โน250 per year.
- Maximum Deposit: โน1.5 Lakh per financial year.
- Management: The account is managed by a guardian until the girl reaches 18 years.
- Interest Rate: Offers a 2% annual interest rate (as of recent updates).
- Withdrawals:
- Partial Withdrawal: Allowed up to 50% of the balance for higher education once the girl turns 18.
- Premature Closure: Permitted for marriage after the girl reaches 18 years.
- Maturity: The account matures 21 years after the opening date or upon the marriage of the girl (whichever is earlier).
How Sukanya Samriddhi Yojana works?
The guardian can open the accountย immediately after the birth of the girl child till she attains the age of 10 years.
- Any girl child who is a resident Indian from the time of opening the account till the time of maturity/closure is eligible for the scheme.
- Only one account is allowed per child. Parents can open a maximum of two accounts for each of their children.
- However, an exception is allowed for more accounts in the case of twins or triplets.
- The account can be transferred to anywhere in India.
The following documents are required for opening an account:
- Sukanya Samriddhi Account Opening Form
- Birth certificate of girl child
- Identity proof (as per RBI KYC guidelines)
- Residence proof (as per RBI KYC guidelines)
Achievements
- Over 4.1 crore accounts have been opened as of November 2024, signifying the scheme’s success in promoting financial inclusion and security for girls.
- Many villages have achieved the status of “Complete Sukanya Samriddhi Gram”, ensuring all eligible girls in the community have SSY accounts.
Significance
- Financial Empowerment:
- Encourages parents to save for their daughters’ future education and marriage expenses.
- Reduces the financial burden on families.
- Social Impact:
- Helps address gender inequality and promotes the importance of the girl child.
- Acts as a step toward changing societal attitudes.
- Educational Support: Provides financial backing for girls to pursue higher education.
Latest development
Jan 2025: The Union government decided to raise the returns on the Sukanya Samriddhi Account Scheme (SSAS) from 8% to 8.2%, and on the 3-year Post Office Time Deposit Scheme (POTDS) from 7% to 7.1%, for the first quarter of 2024, while keeping the interest rates unchanged for all other small savings schemes.
Government Schemes for Girl Child
India has implemented various schemes to empower and uplift the girl child, focusing on education, health, financial security, and overall development.
Beti Bachao, Beti Padhao (BBBP)
- Launch Year: 2015
- Ministries Involved: Ministry of Women and Child Development, Ministry of Education, and Ministry of Health and Family Welfare
- Objective:
- Prevent female feticide and improve the sex ratio.
- Promote education and empowerment of the girl child.
- Create awareness about the importance of girls in society.
- Key Features: Awareness campaigns, community participation, and provision of resources for education.
Ladli Scheme (by States)
- Implemented In: Haryana, Delhi, and other states
- Objective:
- Improve the status of the girl child in society.
- Provide financial assistance for education and marriage.
- Key Features:
- Financial incentives are given to families of girl children.
- In Haryana, โน5,000 is deposited annually for five years.
Balika Samridhi Yojana (BSY)
- Launch Year: 1997
- Ministry: Ministry of Women and Child Development
- Objective:
- Provide financial support to girls from economically weaker sections.
- Key Features:
- Scholarships for education from Class 1 to 10.
- A lump sum deposit at birth and additional cash incentives during schooling.
CBSE Udaan Scheme
- Launch Year: 2014
- Ministry: Ministry of Education
- Objective:
- Address the gender gap in engineering colleges.
- Encourage girls to pursue higher education in STEM fields.
- Key Features:
- Free study materials, virtual classes, and mentoring for girl students in Class 11 and 12.
Kanya Shiksha Pravesh Utsav
- Launch Year: 2022
- Ministries Involved: Ministry of Women and Child Development and Ministry of Education
- Objective:
- Ensure the enrollment and retention of out-of-school girls in the 11-14 age group.
- Key Features:
- Focused on mainstreaming girls into the education system.
Dhanalakshmi Scheme
- Launch Year: 2008
- Ministry: Ministry of Women and Child Development
- Objective:
- Provide financial incentives to families to encourage the education and well-being of girls.
- Key Features:
- Conditional cash transfers for the birth, immunization, and education of girl children.
National Scheme of Incentive to Girls for Secondary Education (NSIGSE)
- Ministry: Ministry of Education
- Objective:
- Promote the enrollment of girls from SC/ST communities in secondary schools.
- Key Features:
- โน3,000 deposited in the name of the girl, which can be withdrawn after completing Class 10.
Kishori Shakti Yojana (KSY)
- Ministry: Ministry of Women and Child Development
- Objective:
- Improve the nutritional and health status of adolescent girls.
- Enhance their education and life skills.
- Key Features:
- Health awareness, vocational training, and literacy programs for girls aged 11-18.
Mukhyamantri Rajshree Yojana (Rajasthan)
- Launch Year: 2016
- Objective:
- Improve the status of girls in Rajasthan by providing financial assistance.
- Key Features:
- Financial support is provided at various milestones: birth, vaccination, and school education.
Bhagyalakshmi Scheme (Karnataka)
- Objective:
- Support girls from Below Poverty Line (BPL) families.
- Key Features:
- A fixed deposit in the name of the girl at birth, which can be accessed upon completing Class 10.
Ladli Lakshmi Yojana (Madhya Pradesh and Other States)
- Objective:
- Prevent child marriages and promote education for girls.
- Key Features:
- Periodic financial assistance for education and marriage.
Mahila Samakhya Programme
- Ministry: Ministry of Education
- Objective:
- Empower rural women and girls through education and collective action.
- Key Features:
- Focus on skill development, awareness programs, and gender equality.
Conclusion
The Sukanya Samriddhi Yojana continues to be a cornerstone of India’s commitment to securing the future of its daughters while promoting gender equality and inclusive development.
The Sukanya Samriddhi Yojana embodies a transformative initiative aimed at securing the future of young girls in India. By fostering financial discipline among families and prioritizing education and empowerment, the scheme has emerged as a powerful catalyst for social progress.
The steady growth in account openings reflects the growing awareness and acceptance of this visionary program.
As the nation continues its journey towards gender equity and inclusion, the Sukanya Samriddhi Yojana ensures that every girl has the opportunity to dream, achieve, and thrive in a supportive and empowered environment.
Frequently Asked Questions (FAQs)
Q. What are the benefits of Sukanya Yojana?
Ans: Under Sukanya Samriddhi Yojana, parents or any other guardian of a girl child below 10 years of age can open an account in the name of the daughter. Under this scheme, the government is now giving the benefit of 7.6 per cent interest. Accounts of only two daughters of a family can be opened under this scheme.
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-Article by Swathi Satish
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