Budget 2023 Explained: What Is The Mahila Samman Saving Scheme?

Nirmala Sitharaman has introduced a new saving savings scheme for women that is known as the Mahila Samman Savings Scheme in this year's budget.

This scheme is the first of its kind and has been made keeping in mind the benefits of saving for women and girls.

The scheme has a two-year term that will last till March 2025.

Also, another key thing to note about the scheme is that it can accept maximum deposits of up to two lakhs.

The interest rate proposed on the deposits is around 7 per cent.

It is very important for women to understand the importance of saving money and managing that all by themselves. A new simple scheme in this year’s budget will surely encourage women to do that.