Begin typing your search above and press return to search.

Record small savings growth

By Staff Reporter

GUWAHATI, July 6 - The collection from post office small savings schemes in Assam has recorded a phenomenal growth in the financial year 2015-16. The gross small savings collection recorded Rs 6,080.96 crore, against the target of Rs 4,250 crore that was set for the State by the Ministry of Finance, Government of India during the last financial year.

�It is a gross progressive achievement of 143.08 per cent. Similarly, the net small savings collection was Rs 1,270.52 crore� against the target of Rs 780 crore during the same period. It is a net progressive achievement of 162.88 per cent,� sources in the Directorate of Small Savings told The Assam Tribune.

It is worth mentioning that in comparison to small savings collection in the FY 2014-15, the gross collection grew by 38.55 per cent and net collection soared by 69.24 per cent in 2015-16.

The Union Government generally provides 50 per cent of the net small savings collection as long-term soft loan to the State. The long repayment schedule makes it an excellent resource for the State for investment in the development of infrastructure.

�The National Savings Institute (NSI) and the Directorate of Small Savings, Assam, have been working jointly to create awareness about small savings schemes. In order to promote the habit of small savings in the State, NSI and the Directorate have been undertaking regular mass publicity campaigns and agents� training programmes across Assam,� sources said.

Next Story