Examining Government Statements Regarding Child Welfare: A Truth Verification
The Sukanya Samriddhi Yojana (SSY), a significant initiative under the Beti Bachao Beti Padhao program, has been making strides in empowering the girl child's financial future. This series, made possible with the support of the International Fact Checking Network (IFCN), delves into the details of the SSY.
Launched as a new approach by the current government, the SSY is targeted at the welfare of the girl child. The normal tenure of the SSY account is till the girl child turns 21 years of age. The natural or legal guardian of the girl child can open a bank account from the time of her birth till she attains an age of ten.
The current interest rate offered for the SSY by the government is 8.5% per annum. However, it's important to note that the interest rate on SSY accounts was reduced to 8.1% in 2017-18 and at some point, it was increased from 9.2% to 9.4%.
As of 30 June 2018, the total number of SSY accounts is 1,39,85,442 and the total deposits are Rs 25979.62 crore. This means that more than 1.39 crore SSY accounts have been opened.
While the claim that financial future has been secured for crores of girls is false as only 1.39 crore accounts have been opened under the SSY, the total deposits under SSY crossed Rs 25000 crore as of the same date.
The SSY provides for triple-E exemptions under the income tax act, making it an attractive investment option for the long term. The minimum deposit amount under SSY has been reduced to Rs 250 from the existing Rs 1000, making it more accessible for a larger population.
It's worth noting that the number of SSY accounts opened is less than 15% of the total female population in the 0-10 age group as per the 2011 census. This suggests that while the SSY has made a positive impact, there is still room for improvement in reaching more girls.
This story is part of a larger series on the 4-years of the Modi government, providing a comprehensive overview of various initiatives and their impact. Despite the search results not providing specific information about predecessor governments that implemented similar certificates ("Scheine"), the SSY stands as a notable achievement in the government's efforts towards the girl child's welfare.
In conclusion, the Sukanya Samriddhi Yojana, a part of the Beti Bachao Beti Padhao program, is a significant step towards securing the financial future of the girl child in India. While the number of accounts opened is less than 15% of the total female population in the 0-10 age group, the total deposits crossed Rs 25000 crore as of 30 June 2018, indicating a positive trend. The SSY, with its attractive interest rates and tax benefits, continues to be an important initiative in the government's plan for the girl child's welfare.
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