NPS Vatsalya

nps vatsalya launch today: Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs, has launched the nps vatsalya scheme today. This initiative focuses on securing children's financial future through a pension account.

nps vatsalya offers parents a way to secure their children's financial future, including retirement, with a pension scheme for minors. Notable features include a market-linked voluntary contribution system and a unique PRAN for account management. Minimum initial investment is Rs 1,000.

Finance Minister Nirmala Sitharaman has unveiled nps vatsalya, a new pension scheme designed for minors to foster long-term financial security. The initiative was simultaneously launched at 75 locations across India, distributing over 250 PRANs to young subscribers. The scheme aims to instill saving habits early and leverage compounding for substantial future wealth.

Finance Minister Nirmala Sitharaman's Union Budget 2025-26 increases funds for women and child development by over Rs 3,700 crore. Major allocations include Rs 21,960 crore for POSHAN 2.0 and significant rises for Mission Vatsalya and Mission Shakti. Withdrawals from old National Savings Scheme accounts are exempt from tax starting August 2024.

Small Savings Schemes Interest Rates January-March 2025: Interest rates for post office savings schemes remain unchanged for January-March 2025, according to the Finance Ministry. Rates for small savings programs are reviewed quarterly, following a methodology tied to government bond yields.

Latest NPS benefits under new tax regime after Budget 2024: If your basic salary is Rs 1 lakh, your employer can contribute Rs 10,000 (10% of basic pay) to the NPS on your behalf, which is exempt from tax. This deduction will be increased to Rs 14,000.

In the Union Budget 2024, Finance Minister Nirmala Sitharaman introduced two initiatives: extending NPS 14% employer contribution benefits to the private sector and announcing nps vatsalya.

Budget 2025 income tax: Budget 2025 introduces key personal tax reforms focusing on Viksit Bharat. Amendments include a new income-tax bill, revised income tax slabs, and increased rebate thresholds under the Concessional Tax Regime, benefiting middle-class taxpayers.

The government has enacted significant direct tax reforms to boost investment and ease compliance. Key changes include reclassifying AIF securities as capital assets, extending startup tax benefits until 2030, and introducing presumptive tax for non-resident electronics service providers. Inland vessels now qualify for the Tonnage Tax Scheme.

Income Tax Changes FY 2025-26: Starting April 1, 2025, several new income tax regulations are coming into effect for FY 2025-26, bringing changes to tax slabs, exemptions, TDS/TCS rules, and NPS contributions. The modifications aim at simplifying tax processes, enhancing benefits for taxpayers, and offering more clarity on exemptions and deductions.

Budget 2025 income tax: With the proposed changes, NPTR will now become far more appealing for individuals as it would mean availing beneficial tax rates and no tax declaration or providing/ maintaining tax deduction and exemption proofs.

The Finance Minister has adjusted tax slabs for the middle class in the new tax regime, offering greater savings and tax rebates. Additionally, changes include enhancements in TDS limits, updated rules for self-occupied properties, and easier tax return corrections.

Budget 2025 income tax: Recognizing the contributions of the middle class and with an objective to eventually phase out the old tax regime, various changes have been introduced in the new tax regime. The basic exemption limit has been increased from INR 3 lakhs to INR 4 lakhs.

EPF, NPS, and PPF are key retirement savings schemes in India offering tax benefits, liquidity options, and varying returns. EPF suits salaried individuals, with partial and full withdrawal allowed, and a risk-free interest rate. NPS provides market-linked returns and flexible investment choices. PPF is low-risk with government backing and allows partial withdrawals after six years.

The government's comprehensive agenda covers agriculture, including PM SVANidhi, natural farming, shrimp production, and cooperative policies, employment initiatives, inclusive development, manufacturing, urban development, energy security, infrastructure investment, innovation, and next-gen reforms. Specific support goes to Andhra Pradesh capital needs. The total allocation for these initiatives is Rs 1.52 lakh crore.