A Study of Sukanya Samrudhi Yojana in the Post office of Thane District Abstract: Mr. Rameshwar P. Rasal Junior Clerk Laxman Devram Sonawane College, Kalyan (w). Research Scholar in Economics, Shree Jagdish Prasad Jhabarmal Tibrewala University Rajasthan, India Out of 265 countries of the world, Sukanya Samrudhi Yojana is launched in India which is one of the developing & agrarian countries. This scheme was launched for the first time through India Post department. India post has the largest network of post office in the world. India post has the power to deliver development to the last mile Sukanya Samrudhi Yojana in one of the highest paid interest scheme in India with the minimum of deposit, the account holder will maximum benefit. The earlier measures were not yielding the desired result. The research chose seven talukas of Thane district in Maharashtra state for the study. The study aims to review the performance in seven months since the date of inception of the scheme. It was found that maximum number of account are opened in the talukas of Murbad, Kalyan and Ulhasnagar and the maximum amount deposited in the talukas of Thane and Kalyan. Introduction: Even in 21 st century, in India 68.8% people lives in rural areas. (Khorade Bhagchandra S. & Abhanga Sandip B., 2015) The rural area is dominated by illiteracy as well as superstition. In today s technology age women are still facing the problems in the areas of education, health, marriage, equality, etc. The literacy rate as well as birth rate of male is more than female. Prime Minister Narendra Modi has introduced various social security schemes viz. Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana, Atal Pensin Yojana, Pradhan Mantri Jan Dhan Yojana, Saksham etc. for the benefit of poor people. (R C Rajamani, 2015) Prime Minister Narendra Modi has launched Sukanya Samrudhi Yojana for girl child as a part of Beti Bacho-Beti Padhao campaign through Post offices in India with effect from 1 st February 2015. India post has a vast network of Post offices in India. There are 154,822 Post offices of which 139,886 i.e. 89.84% are in rural areas & 15726 i.e. 10.16% in urban areas. (India Post, 2015-16) Objective of the Research: To study features, objects and future of Sukanya Samrudhi Yojana. To study the preference given to Sukanya Samrudhi Yojana in Thane district. Rexjournal Volume 3 Issue 3 Page 168
To give Suggestions and frame action plain for the progress of Sukanya Samrudhi Yojana schemes. Research Methodology: This study is based on secondary data. For this purpose the web site www.indiapost.org, on line articles, Annual Report of Thane district of Post office & Abstract of Thane District etc. are used to collect the information. The percentage method is used to study the response given by the people to Sukanya Samrudhi Yojana schemes. Need of the Research: Prime Minister, Narendra Modi launched the scheme of Sukanya Samrudhi Yojana to save girl child, to control the percentage of dropout of girls and make them empower. People gave good response to the scheme of Beti Bacho- Beti Padhao. Thane district is one of the most densly populated district of Maharashtra. In Thane district there are 943 females per 1000 males end the literacy rate among female is 79.77% as compared to male which is 88.72%. Hence Thane district is selected for the study as there is ample scope for the success of the scheme. Feature of the scheme: 1. The account of girl child below the age of 10 years to be opened by the natural or legal guardian. 2. Initial deposit Rs. 1000 & subsequent deposit in multiples of Rs. 100/-. 3. Maximum deposit per financial year Rs. 150000. 4. Deposits are allowed up to 14 years from date of opening. 5. The deposit can be made in the form of cash or demand draft or cheque. 6. Passbook facility. 7. No deposit for period from 15 th to 21 st year of Account. 8. Documents required to open account Birth certificate of girl child, parents/guardians identify & address proof. 9. 50% of deposit amount can be withdrawn when girl reaches 18 years for education or marriage 10. The account will mature at 21 st years from the date of opening of account. Rexjournal Volume 3 Issue 3 Page 169
11. On attaining the age of 10 th years, the girl can operate the account. 12. The account may be transferred anywhere in India if the girl child shifts to a place other than the city or locality where the account 13. An account where minimum deposit has not been deposit in a particular year will attract a fine of Rs. 50 p.a. 14. The operation of the account shall not be permitted beyond the date of girls marriage 15. In the event of death of account holder, the account shall be closed immediately on production of death certificate. The balance of the credit of the account together with interest will be paid to the guardian of the account holder. 16. Income Tax rebate u/s 80c for contribution up to Rs. 1.5 lakh. 17. The interest rate will be notified by the central government on a yearly basis. 18. The Rate of interest for the F.Y 2014-15 is 9.1% which is the highest rate of interest offered by the government on Small Saving Schemes. Table1: Year wise contribution of Sukanya Samrudhi Yojana schemes Year Age Year Opening Per Per Year Interest Closing of the Balance Month Amount Rate Balance girl Child Amount Deposit Deposit 9.1% 1 5 2015-16 - 1000 12000 592 12592 2 6 2016-17 12592 1000 12000 1737 26329 3 7 2017-18 26329 1000 12000 2987 41316 4 8 2018-19 41316 1000 12000 4352 57507 5 9 2019-20 57668 1000 12000 5839 75507 6 10 2020-21 75507 1000 12000 7462 94969 7 11 2021-22 94969 1000 12000 9234 116203 8 12 2022-23 116203 1000 12000 11166 139369 9 13 2023-24 139369 1000 12000 13274 164643 10 14 2024-25 164643 1000 12000 15574 192217 11 15 2025-26 1992217 1000 12000 18083 222300 12 16 2026-27 222300 1000 12000 20821 255121 13 17 2027-28 255121 1000 12000 23808 290929 14 18 2028-29 290929 1000 12000 27066 329995 15 19 2029-30 329995 - - 30029 360024 Rexjournal Volume 3 Issue 3 Page 170
16 20 2030-31 360024 - - 32763 392787 17 21 2031-32 392787 - - 35743 428530 18 22 2032-33 428530 - - 38996 467526 19 23 2033-34 467526 - - 42545 510071 20 24 2034-35 510071 - - 46417 556488 21 25 2035-36 556488 - - 50640 607128 Source: www.indiapost.org Table 1 gives an illustrative example of continuous monthly deposit of Rs. 1000/- and annual deposit Rs. 12000/- being deposited by parent or guardian of girl child from the age of 5 years upto 18 years & interest there on and balance up to the age of 25 years. Table 1: Achievement of Account of Sukanya Samrudhi Yojana in the Thane District Talukas No of Females (1 st stander to 5 th Stander) Collected Account of SSY as on (26.08.2015) % in target achieved in Account* Thane 153249 2871 1.87 Bhiwandi 51403 712 1.39 Shahapur 16330 627 3.84 Kalyan 62307 2625 4.21 Ulhasnagar 21867 880 4.02 Ambernath 23659 309 1.31 Murbad 8633 857 9.93 Total figurer (01.04.2015 to 26.08.2015) 337448 8881 2.63 Up to figure (31.03.2015) 337448 10928 3.24 Total Figure (01.01.2015 to 26.08.2015) 337448 19809 5.87 Source: Abstract in Thane District 2013, Department of Post Office, Thane district *Calculated Table number 2, shows number of account opened & number of girl child up to 5 th standard in seven talukas of Thane district. The number of girl student is high in Thane, Kalyan and Bhiwandi taluka & low in Murbad & Shahapur taluka. The achievement of account opened to number of girl child in Thane taluka is 1.87% & Kalyan Taluka 4.21% which less as compared to Murbad taluka which 9.93%. (Thane Post Office, 2015-16) Rexjournal Volume 3 Issue 3 Page 171
Table 3: Progress of Amount of Sukanya Samrudhi Yojana in the Thane District Talukas in Thane district Collected Amount of SSY as on (26.08.2015) Taluka wise Progress of Amount in %* Thane 43375400 48.35 Bhiwandi 5859900 6.53 Shahapur 2412100 2.69 Kalyan 22980600 25.62 Ulhasnagar 7004100 7.81 Ambernath 732500 0.82 Murbad 7349100 8.19 Total figurer (01.04.2015 to 26.08.2015) 89713700 83.57 Upto figurer (31.03.2015) 17632700 16.43 Total figurer (01.01.2015 to 26.08.2015) 107346400 100 Source: Department of Post Office, Thane district *Calculated Table number 3, shows that taluka wise progress of Sukanya Samrudhi Yojana Scheme deposit amount in seven taluka of Thane district. Thane taluka first preference for i.e amounted deposited was 48.35% and Ambernath taluka first preference i.e. 0.82% amount deposited. Figure 1: Share of Target Achieved of Account & Amount. 60 50 48.35 % in target achieved in Account* Taluka wise Progress of Amount in %* 40 30 25.62 20 10 0 9.93 6.53 7.81 8.19 3.84 4.21 4.02 1.87 1.39 2.69 1.310.82 Thane Bhiwandi Shahapur Kalyan Ulhasnagar Ambernath Murbad Rexjournal Volume 3 Issue 3 Page 172
From the figure 1, it was clear that number of account opened in Thane taluka are less than Murbad taluka but the amount deposited in Thane taluka was more than aggressive that of Murbad taluka. Finding of the Research: 1. The parents or guardians contributed only 5.87% and availed the benefit of Sukanya Samrudhi Yojana Schemes. 2. The maximum benefit of this scheme is availed by Murbad, Kalyan, Ulhasnagar and Shahapur taluka and the least benefit is availed by Thane, Bhiwandi and Ambernath taluka. 3. Thane & Kalyan taluka recorded the highest amount of deposit. 4. The maximum number of account are opened upto 31 st March 2015 i.e 9.27% and thereafter the number of accounts opened decreased during the period 1 st April 2015, to 26 th August 2015 and it counted 2.63%. 5. The amount deposited during the period 1st April 2015 to 26 th August 2015 was Rs. 8.97 crore and for the period upto 31 st March 2015 it was 83.57%. 6. The numbers of Sukanya Samrudhi Yojana Scheme account were 19809 and the deposit was Rs. 10.73 crore from Thane district. Suggestion of the Research: 1. Sukanya Samrudhi Yojana with the concept Beti Bacho & Beti Padhao is one of the important part of the social security measures and an important step for women empowerment Sukanya Samrudhi Yojana had received good response in Thane district but the response was not upto the level as it was determined. The scheme had received only 5.84% response. India Post has to frame powerful Policies for opening maximum number of accounts. India post should take adequate measures. 2. School authorities in India should take sep to open account of each girl child for this purpose the government of India should frame rules & regulations & pass a necessary bill thereof. 3. The scheme of Appreciation is required to be followed for the school as well as post office opening maximum number of account. 4. There should be provision of facilities available in sanchayika scheme for this purpose India post should issue necessary orders. Rexjournal Volume 3 Issue 3 Page 173
5. India post should induct technology enabled services i.e mobile banking SMS alert service for Sukanya Samrudhi Yojana. 6. The inefficiencies & short comings of India Post can be overcome by application technology. 7. The incentive of 0.5 to 1% of deposit will be awarded to the school authorities looking after the work of Sukanya Samrudhi Yojana Scheme. 8. A skillful advertising plan is required to be framed for the purpose of publicity. The posters and banners will be displayed in each school and at the prominent places of villages and cities. 9. The Government, NGO & Public ltd. companies should assist the parent /guardian of girl child below poverty line for the initial deposit i.e Rs. 1000/- in Sukanya Samrudhi Yojana. It will lead to open maximum number of Accounts. 10. Sukanya Samrudhi Yojana enables empowerment of the under privileged girl child with the mission of making them self reliant and well informed to take better financial decisions. Conclusion: Sukanya Samrudhi Yojana with the concept Beti Bachao & Beti Padhao is one of the very good scheme launched by Prime Minister Narendra Modi. After independence government has launched the special scheme for the first time for the betterment of girl child. The girl child will get the right of birth and education. This scheme will make them empower so that they can confidently faces the challenges in all spheres of life and compete with male and become successful in life. The destruction of female fetus can be controlled and or reduced to large extent. This scheme will lead to financial inclusion & thereby it will affect GDP favorably. The Government should take suitable actions on the basis of suggestion mode in this article. If the suggestion will be followed there will be some improvement in the life of girl child as well as in the status of educational institutions. Bibliography India Post. (2015-16). Annual Report. Delhi: Department of Posts, Ministry of Communications and Information Technology, Govement of India. Khorade Bhagchandra S. & Abhanga Sandip B. (2015). Gramine Vikasat Sushma, Laghu or Madhima Upkramanchi Bhomika. Arthasawad, volume:39 (Issue:1), 85-90. R C Rajamani. (2015). Socio-Economic Welfare Intitiatives. YOJANA, Volume:59, 42-43. Rexjournal Volume 3 Issue 3 Page 174
Thane Post Office. (2015-16). Annual Report. Thane: Department of Posts, Ministry of Communications and Information Technology, Govement of India. Rexjournal Volume 3 Issue 3 Page 175