Saving Scheme in Post Offices.

            The Minister of State for Communications & Information Technology Sh Sachin Pilot informed the Lok Sabha yesterday that the gross deposit of Small Savings Scheme in Post Offices  declined in the financial year 2011-12 as compared to the year 2010-11. The decline of gross deposit in small savings schemes is, among other things, due to investor’s choice of alternative instruments for effecting savings. The Government has taken following measures to make the small saving schemes more attractive:-

1.   The rate of interest on Post Office Savings Account (POSA) has been increased from 3.5% to 4%.  The ceiling of maximum balance in POSA 1 lakh in single account and 2 lakh in joint account) has been removed.

2.  The maturity period for Monthly Income Scheme (MIS) and National Savings Certificate (NSC) has been reduced from 6 years to 5 years.

3.   A new NSC instrument, with maturity period of 10 years, has been introduced.

Introduction of new Centrally Sponsored Scheme of Pre-Matric Scholarship for needy Scheduled Tribe Students, Studying in Classes IX & X.

   The Union Cabinet has approved a new Centrally Sponsored Scheme of Pre-Matric Scholarship for Scheduled Tribe (ST) students, studying in Class IX & X.  The decision will go a long way in improving participation of ST students enrolled full time in secondary education in Government schools or in a school recognised by Government or a Central/State Board of Secondary Education, whose parents` annual income does not exceed Rs two lakh. The Scheme will help in minimizing the incidence of dropout, especially in transition from the elementary to secondary stage of education.

     About 22 lakh ST students are estimated to be covered under the Scheme every year during the XII Five year Plan. The Scheme which will be introduced w.e.f. 1.7.2012 will be implemented through State Governments and Union Territory Administration. The implementing agencies will receive 100 percent Central assistance from the Government of India for expenditure under the Scheme over and above their committed liability.

Proof of Identity during Train Journey.

   With a view to reduce chances of misuse of reservation system by unscrupulous elements, it has been prescribed that passengers have to produce original proof of identity during the journey in the following cases:

   1.    For e-tickets, any one of the passengers booked on the ticket has to produce any one of the prescribed proofs of identity in original.

   2.    For Tatkal tickets, the original proof of identity as indicated on the ticket.