Under the scheme, a female member of a nuclear family can get a cash incentive from the government. The amount of incentive differs from one state to another.
The scheme was launched on 27 September 2011. In 2012, the scheme was renamed as Sukyan Samriddhi Yojana.
What is the Benefit of the Sukanya Samriddhi Yojana for Women in India?
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The Sukanya Samriddhi Yojana is a government initiative that provides financial security to daughters of any woman who has died. This plan offers women in India a “safety net” and allows them to receive their monthly installment without any break. The Income Tax department has recently announced that it will allow widows and divorcees to claim the benefits of the Sukanya Samriddhi Yojana without needing to remarry or adopt children.
The Sukanya Samriddhi Yojana was developed by the Government of India on the 10th anniversary of National Women’s Day in 2015. It aims at providing financial assistance to women who have lost their only earning member due to death or divorce.
The government provides monthly installments for more than 5000 girls per month, who are at least 18 years of age.
How Does the Sukanya Samriddhi Yojana Work?
The Sukanya Samriddhi Yojana is a scheme introduced by the Government of India in 2018. It aims to make sure that all women who are married or otherwise dependent on their husband’s income are able to open an account with any bank, mutual fund, life insurance company.
It is a simple scheme which requires the woman to put in Rs 1,000 every year into her account and then withdraw it on reaching the age of 10 or before this age if she becomes financially dependent on her husband.
The Sukanya Samriddhi Yojana is designed for women who do not have enough money to invest due to their inability to work due to various reasons like health issues, pregnancy, etc.
This scheme will allow these women to access financial products that they otherwise would not be able to otherwise.
What are the Eligibility Criteria of the Sukany Samriddhi Yojna?
The Sukany Samriddhi Yojna is a loan scheme launched by the Government of India to provide financial support to female students. The eligibility criteria of the scheme are as follows:
- The female student must be between the age of 18 and 40 years old and should be studying in a Non-Government/Self-Financed (NGS) or Government Recognized School
- The student must have passed class XII/XII, and she will be unable to take up any eligible courses for which she has not completed her graduation.
- The Sukany Samriddhi Yojna was designed as a means to enable women from economically weaker backgrounds to continue their education without having to worry about finances.
- The company also offers loan repayment plans for those with higher incomes or those who are not able to make payments on time.