KERALA

Rs. 5,500 cr. to be mobilised under national savings schemes

THIRUVANANTHAPURAM MAY 22. The Government is targeting mobilisation of Rs. 5,500 crores under the national savings schemes this year to achieve a net inflow of Rs. 2200 crores in deposits.

It has issued orders to the Collectors to achieve 80 per cent of the targets before the end of December 2003 itself. Government employees, public sector undertakings and other agencies should cooperate with the effort.

The order said that incentives should be continued this year for deposits in school sanchayika and national savings certificates. Incentives would be 1.5 per cent for deposits of Rs. 10,000 or above under the sanchayika scheme. Institutional deposits and national savings certificates for Rs. 5 lakhs to Rs. 25 lakhs would attract an incentive of two per cent. The incentive would be 3.5 per cent for deposits between Rs. 25 lakhs and Rs. 50 lakhs. For deposits between Rs. 50 lakhs and Rs. 1 crore, the incentive would be 3.5 per cent. The incentive would be 4.5 per cent for deposits between Rs. 1 crore and Rs. 50 crores. Deposits exceeding Rs. 50 crores would attract an incentive of six per cent.

Steps should be taken to bring all schools under the Sanchayika Scheme and mobilise deposits from overseas Indians, welfare fund boards and trusts, the order said.

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