Question

Compare any five features of Senior Citizen Scheme and PPF( Public Provident Fund).

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Solution

	FEATURES	PPF	Senior Citizen Scheme
i	Rate Of Interest	Lower Rate Of Interest or 8.1%/ 7.9%	Higher rate or 8.6 %/ 8.5%
ii	Interest Is Tax-Free / Not Taxable	Interest Is Tax-Free	Interest Is Taxable
iii	Loan facility	Can Take Loan	No Loan Facility
iv	Lock in period /time period	15 Years Can Extend To 5 + Years ( Block Of 5 Years)	5 Years Can Be Extended For 3 Years
v	Deposit	Once In A Year Or In 12 Instalments Per Annum	Can Deposit In lumpsum
vi	Max limit	Maximum Deposit 1½ Lakh Per Annum	Maximum- 15 Lakh ( One Time)
vii	Who can invest?	Any One (Can Open only One Account)	Only Senior Citizens Or Those Who Have Taken Voluntary Retirement
viii	Tax rebate	Tax Rebate Facility	Tax Rebate Facility
ix	Premature closure	Premature closure Allowed In Special Cases ( Higher Studies. Illness )	Premature Closure Allowed With Penalty After 1 Year.
x	Compound interest	Interest Accumulated And Earns Interest	Interest Not Accumulated And Transferred To Savings Account (@ 4%) Every Quarter
xi	Wealth tax	Exempted From Wealth Tax	Not Exempted From Wealth Tax

Question

Give two examples of direct real income.

Solution

Two example of direct real income.

Skills of family members like stitching own clothes by house member, ironing clothes at home.
Use of community resources like public transport, public garden, etc.

Question

Solution

The main salient features of DWACRA scheme are as follows:

The minimum number of women member of the informal group for which the scheme is applicable is 5.
Each group is entitled to a revolving fund amount on prorate basis at Rs. 1000 per member, subject to a maximum of Rs. 15000 per group.
The group is also entitled to a subsidy of 50% under IRDP, subject to a monetary ceiling prescribed from time to time.
For improving the living condition of women and thereby, children through the provision of opportunities for self -employment and access to basic social service.