Home » National » Union Finance Minister Smt. Nirmala Sitharaman to launch NPS Vatsalya Scheme on September 18, 2024

Union Finance Minister Smt. Nirmala Sitharaman to launch NPS Vatsalya Scheme on September 18, 2024

Newdelhi:16/9/24:In pursuance of the Union Budget 2024-25 announcement, Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman will launch the NPS Vatsalya scheme on September 18, 2024, in New Delhi. Schoolchildren will also join the launch.

The Union Finance Minister will also launch an online platform to subscribe to NPS Vatsalya, release scheme brochures, and distribute Permanent Retirement Account Number (PRAN) cards to new minor subscribers.

As part of the launch in New Delhi, NPS Vatsalya events will be organized simultaneously at nearly 75 locations throughout the country. Other locations will join the launch through video conference and distribute PRAN membership to new minor subscribers in that location.

NPS Vatsalya will allow parents to save for their children’s future by investing in a pension account and ensuring long-term wealth with the power of compounding. NPS Vatsalya offers flexible contributions and investment options, allowing parents to make investments of Rs. 1,000 annually in the name of the child, thus making it accessible to families from all economic backgrounds.

This new initiative is designed to start early in securing the financial future of children, marking an important step in India’s pension system. The Scheme will be run under the Pension Fund Regulatory and Development Authority (PFRDA).

The launch of NPS Vatsalya highlights the Government of India’s commitment to promote long-term financial planning and security for all. It’s a big step toward making India’s future generations more financially secure and independent.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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