In a gender-biased country like India where a female child is seen as a burden and liability on the family. The Sukanya Samriddhi Yojana is like a spell of rain which calms the mental turmoil of the parents/guardians, worrying about the future of their girl child. The Sukanya Samriddhi Yojana was launched as a part of the Beti Bachao, Beti Padhao campaign by the Goverment on 22 January 2015 after seeking the subjugating conditions of the girl children in the country. It is a savings scheme formulated to benefit the parents of the girl children. The scheme inspires the parents/guardians to accumulate funds in the Sukanya Samriddhi Yojana account from the time of the birth of their girl child for the purpose of their education and marriage.
The innovative Sukanya Samriddhi Yojana not only envisages the financial security for every girl child living in the Indian households but also contributes towards making them financially independent. With this scheme, the phrase ‘Boond boond se sagar bharta hai’ has got its true essence. Now, the parents are relieved as they will save little amounts of money as per their convenience for the future of their girl child and on maturity, they will have a good sum of money to give a nice future to her. So far, more than 76 lakhs people have benefitted from this scheme and have opened accounts worth Rs. 3,000 crores.
The money from the Sukanya Samriddhi Account can be withdrawn before the expiry of the maturity period of 21 years. Only the girl child is eligible to withdraw this amount from the account after attaining the age of 18 years. Only 50% of the amount is permitted to be withdrawn for the purpose of paying fees for the higher education, if the girl child is 18 years of age or has completed 10th standard and to get an admission in an educational institution. The account should have a deposit of at least 14 years or more.
