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Home Science Chapter 24 Income-Generating Schemes

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    NCERT Solution For Class 12 Home+science Home Science

    Income-Generating Schemes Here is the CBSE Home+science Chapter 24 for Class 12 students. Summary and detailed explanation of the lesson, including the definitions of difficult words. All of the exercises and questions and answers from the lesson's back end have been completed. NCERT Solutions for Class 12 Home+science Income-Generating Schemes Chapter 24 NCERT Solutions for Class 12 Home+science Income-Generating Schemes Chapter 24 The following is a summary in Hindi and English for the academic year 2021-2022. You can save these solutions to your computer or use the Class 12 Home+science.

    Question 1
    CBSEENHO12026944
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    Compare any five features of Senior Citizen Scheme and PPF( Public Provident Fund).
    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 2
    CBSEENHO12026974
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    Give two examples of direct real income.
    Solution

    Two example of direct real income.

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

    Question 3
    CBSEENHO12027034
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    Write four features of the development of women and children in Rural Area (DWACRA) scheme.
    Solution

    The main salient features of DWACRA scheme are as follows: 

    1. The minimum number of women member of the informal group for which the scheme is applicable is 5.
    2. 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.
    3. The group is also entitled to a subsidy of 50% under IRDP, subject to a monetary ceiling prescribed from time to time.
    4. For improving the living condition of women and thereby, children through the provision of opportunities for self -employment and access to basic social service.

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