The collections under the government’s small savings scheme for senior citizens more than tripled in April, as those eligible scrambled to take advantage of the budget move that doubled the deposit limit, a senior finance ministry official said.
The fresh mop-up under the scheme breached ₹10,000 crore in April, the first month when the enhanced limit kicked in, compared with the usual deposit of about ₹3,000 crore for this month, the official told. He expected such inflows to remain strong in the coming months as well.
The government’s small savings scheme for senior citizens more than tripled in April, as those eligible scrambled to take advantage of the budget move that doubled the deposit limit. This fresh mop-up under the scheme breached ₹10,000 crore in April, the first month when the enhanced limit kicked in, compared with the usual deposit of about ₹3,000 crore for this month.
