Budget 2023 comes into force with commencement of new Financial … – NewsOnAIR

The new financial Budget-2023-24 which had been presented by Finance Minister Nirmala Sitharaman has come into force today. Various government schemes and amendments proposed in the Budget have also been implemented today. The sale of gold jewellery and gold artefacts will be purchased only with a hallmarked six-digit code now.
Women can also invest in the Mahila Samman Savings Certificates scheme from today. This two-year tenure scheme offers an attractive and fixed interest of 7.5 percent interest compounded quarterly with flexible investment and partial withdrawal options with a maximum ceiling of two lakh rupees. The scheme is valid for two years up to the 31st of March 2025.
The National Savings (Monthly Income Account) (Amendment) Scheme, 2023 has also been implemented from today. Under the scheme, people can invest a maximum of nine lakh rupees in a single account and fifteen lakh rupees in a joint account. Earlier, the maximum investment limit was four lakh fifty thousand for single account holders and nine lakh rupees for joint account holders.
Likewise, Senior Citizen Savings Scheme, 2019 has been amended through Senior Citizens Savings (Amendment) Scheme, 2023 and the maximum investment limit has been raised from 15 lakh rupees to 30 lakh rupees with effect from today.
Interest rates on all the small savings schemes, except Savings Deposit and PPF, have also been upwardly revised and will be applicable from today. These measures will immensely benefit the post office small savings customers and attract more investment in these schemes through post offices, especially in rural areas and amongst girls, women, farmers, artisans, senior citizens, factory workers, government employees, small traders and other sections of the society.
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