Union Budget 2023: SCSS, MIP investment limit doubled, new scheme for women

Mahila Samman Saving Certificate to be available for two years till March 2025, offers 7.5% return, with provision for partial withdrawal

Finance Minister Nirmala Sitharaman announced major changes in the small savings schemes bucket with a doubling of the maximum investment limit under the Senior Citizen Savings Scheme (SCSS) and the Post Office Monthly Income Plan (Pomis).

In her Union budget speech for 2023-24, Sitharaman also announced the introduction of a limited period scheme for women, the Mahila Samman Saving Certificate (MSSC), which will be available for two years till March 2025. The scheme will offer a fixed return of 7.5 per cent. Deposits under this scheme can be made in the name of a woman or a girl child. The