Empowering Daughters : 7 Best Investment & Future Plans for Your Girl Child in India

In an era marked by rapid socioeconomic changes, the significance of securing a prosperous and safe future for children, especially girls, has gained paramount importance in India. The societal push towards gender equality and the empowerment of women begins with financial security, and understanding the best investment avenues is crucial for parents and guardians starting from your little Angel’s childhood. It’s certain that every parent or guardian wants the best for their children. Hence, here we delve into several investment options that promise not only to safeguard a girl’s future but also to propel her towards achieving her dreams and ambitions.

1.Sukanya Samriddhi Yojana Scheme

The Sukanya Samriddhi Yojana (SSY) is a savings program launched by the Ministry of Finance specifically for girl children, aimed at covering their educational and marriage expenses. This initiative was officially announced by the Government naon January 22, 2015. Parents can contribute an amount ranging from Rs 250 to Rs 1,50,000 annually.

2. National Savings Certificate (NSC)

The National Savings Certificate (NSC) is an investment scheme introduced by the Indian government designed for fixed income. It targets primarily those with low to middle incomes, offering them an opportunity to invest while also saving on taxes. NSC investments can be made individually, jointly, or on behalf of a minor and require a visit to the nearest post office to initiate. The investment matures over a period of five years.

3. Unit-Linked Insurance Plan (ULIP)

ULIPs offer parents an excellent investment avenue for securing their child’s education. Combining insurance coverage with investment opportunities, ULIPs support the realisation of your financial aspirations for your child’s future. Given their long-term nature, early planning and investment in ULIPs are crucial to safeguard your child’s education.

4. Post-Office Term Deposit (POTD)

The objective of the Post Office Time Deposit Scheme is to ensure the financial stability of girl children through the encouragement of long-term savings and financial management. Another advantage of this postal savings scheme is its portability, allowing it to be opened and transferred anywhere within the country.

5. Public Provident Fund (PPF)

The initiation of the PPF scheme aimed to encourage small savings by providing an investment avenue with attractive returns. Investments in the PPF account are deemed secure due to the assurance provided by the central government.

6. Children Gift Mutual Fund

A Children's Gift Fund is a type of mutual fund designed with specific goals and terms related to children's needs. These funds are frequently chosen as investment options, serving as goal-oriented plans to address the increasing expenses associated with education and other essential needs.

7. Balika Samridhi Yojana

The government introduced the Balika Samridhi Yojana in 1997 with the objective of promoting and maintaining girls' enrollment and attendance in schools, especially in rural areas, supporting their upbringing until they reach legal marriageable age, and encouraging them to pursue income-generating opportunities for their welfare.

Girl children born on or after August 15, 1997, from Below Poverty Line (BPL) families are eligible for benefits. Each family, regardless of the number of children, is entitled to benefits for two girl children.

Eligible girls under the BSY will gain below benefits -

Rs. 500 as a grant amount is provided after birth.

Scholarships are awarded annually to girls born on or after August 15, 1997, who are registered under BSY.

Scholarships range from Rs. 300 to Rs. 1,000 per annum, depending on the student's class level. For Classes I to III, the amount is Rs. 300 annually. In Class IV, it increases to Rs. 500, and in Class V, it becomes Rs. 600. Subsequently, for Classes VI to VII, the scholarship amount is Rs. 700, rising to Rs. 800 for Class VIII, and reaching Rs. 1,000 for Classes IX to X.

Application forms can be obtained from Anganwadi Workers in rural areas and Health Department officials. Alternatively, you can access the forms online, although separate forms exist for urban and rural beneficiaries. Once completed, the application must be submitted to the same organisation from which it was obtained.

Investing in a girl child's future is a step towards empowering her to lead a life of dignity, independence, and success. With the help of the available schemes and plans, the key is to start early, diversify across different investment options, and stay committed to the long-term goal of securing her future. By choosing the right investment plans, parents can ensure that their daughters are not just dreamers but achievers who can stand on their own feet and face the world with confidence and grace.

As India strides towards gender equality, these investment avenues serve as vital tools in bridging gaps and building a foundation for a more inclusive and equitable society.