International Journal of Management (IJM)

Volume 11, Issue 9, September 2020, pp. 2109-2117. Article ID: IJM_11_09_200
Available online at https://iaeme.com/Home/issue/IJM?Volume=11&Issue=9
ISSN Print: 0976-6502 and ISSN Online: 0976-6510
DOI: https://doi.org/10.17605/OSF.IO/64XTD

© IAEME Publication Scopus Indexed

SUKANYA SAMRIDDHI YOJANA- AN

EVALUATION
Dr.Nagaraja.S
Assistant Professor, Department of Studies & Research in Sociology
Tumkur University, Tumakuru, Karnataka, India

ABSTRACT
The goal of social welfare is to increase the well-being of individuals and the quality
of their lives; in particular, its focus is on relieving the suffering of the impoverished,
deprived, disadvantaged, and underprivileged members of society and improving their
lot in life. Because of marriage customs and dowry expectations, having a daughter in
India has never been viewed as a desirable option. Because of this, a number of other
problems emerged, such as the female infanticide and the denial of education to females.
The Sukanya Samriddhi Yojana is a special deposit plan that can be done at the post
office or at commercial bank branches that have been authorised. The two primary
issues—education and marriage—that contribute to the perception that having a
daughter is a burden in our nation prompted the creation of this programme in order to
address those issues. The present paper discusses about Sukanya Samriddhi Yojana
based on secondary sources of data collection.
Keywords: Sukanya Samriddhi Yojana, Social Welfare, Girl Child

Cite this Article: Nagaraja.S, Sukanya Samriddhi Yojana- An Evaluation, International

Journal of Management (IJM), 11(9), 2020, pp. 2109-2117.
https://iaeme.com/Home/issue/IJM?Volume=11&Issue=9

INTRODUCTION
The government of a country may often initiate programmes in an effort to improve the citizen’s
social and economic conditions. These programmes are known as “government schemes.”
Because of the significant impact these programmes have on a variety of the nation's socio-
economic conditions, understanding them is critical for any person who is engaged in their
community. Questions concerning government programmes are typically included in
competitive examinations and interviews so that the level of a candidate's social and national
awareness may be evaluated(S.Roslin & K.P. Ragavarshini, 2023).
The Sukanya Samriddhi Account, or SSA, was introduced on January 22, 2015 by the Prime
Minister of India with the slogan “Beti Bachao, Beti Padhao,” which translates to “saves and
educates the girl child.”

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 Sukanya Samriddhi Yojana- An Evaluation

The purpose of the Sukanya Samriddhi Yojana was to persuade parents of females younger
than 10 years old to start setting money aside for their daughters’ future education and wedding
costs. The Government of India elevated the Special Savings Account (SSA) to the exalted
exempt–exempt–exempt (EEE) category of savings in the general budget for 2015–16, putting
it on an equal footing with other savings alternatives such as the Public Provident Fund (PPF).
According to the data provided by the World Bank in 2015, 67% of India's population was rural.
People who live in rural areas, especially those who are poor and who live in more isolated
rural areas, lack access to social security measures. There is not a fair distribution of the
government's services between the urban and rural populations, with the urban population
making significantly more use of the services than the rural population does. The rural
population in India has a lower literacy rate (68.9%) than the urban population (85%), which
may contribute to an increased level of ignorance on the part of rural residents regarding various
government programmes.

VARIOUS SCHEMES FOR WOMEN AND GIRLS WELFARE IN INDIA

The government of India has, over the course of the past few years, launched out a number of
initiatives that centre on women and seek to provide them with the social dignity that is
rightfully theirs and give opportunities for them to earn a living. In light of the fact that Indian
society's history is replete with examples of unequal treatment of women and men, the
government has taken steps to ensure equality on all fronts, promote women's empowerment,
and improve child education. The following is a list of women's empowerment schemes in India
to provide you an in-depth overview of the many different kinds of programmes that are
currently in operation.
Table-1 Government Schemes for Women and Girls Welfare in India
Name of the Scheme Objectives
The Beti Bachao Beti Padhao Scheme was introduced
on the 22nd of January, 2015 in the state of Haryana by
the Prime Minister of India. This programme ensures
the survival, protection, and education of girl children.
Beti Bachao Beti Padhao Scheme The programme intends to address concerns regarding
the falling gender ratio during the previous few years,
as well as raise awareness of important social issues and
improve the effectiveness of welfare services designed
specifically for women and girls.
The 'Working Women Hostel Scheme' was initiated by
the Indian government with the goals of providing
creche facilities for the children of working women, as
well as ensuring that working women have access to
safe housing and environments for themselves. A grant-
Working Women Hostel in-aid is made available by the government under this
women's empowerment programme for the construction
of new hostel structures as well as the extension of an
existing building inside rental premises.
The One Stop Centre Scheme is the next programme on
the agenda for women's empowerment initiatives in
India. It is a programme that is funded by the Nirbhaya
fund and is sponsored by the central government. The
federal government provides complete funding to state
governments in order to safeguard women who have

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 Dr.Nagaraja.S

Name of the Scheme Objectives

One Stop Centre Scheme
Women Helpline Scheme
Mahila E-Haat
been victims of gender-based violence (including acid
attacks, rape, and sexual harassment) in both public and
private settings. This programme brings together
emergency (medical), non-emergency (legal assistance
and counselling), and emergency (medical) services
under one roof in order to fight against all types of
violence against women.
The Women Helpline Scheme is one of the
government's many programmes designed to empower
women. Its goal is to provide women who have been
harmed by violence in either private or public settings
with emergency replies 24 hours a day, seven days a
week. A single toll-free number (181) that gives rapid
support to women across the country has been used to
universalize women's hotline numbers across all of the
country's states and union territories. This number can
be reached without cost. In addition to this, the
programme raises awareness of other programmes and
schemes that aim to empower women.
Ministry of Women and Child Development launched
Mahila E-Haat. One of India's women empowerment
programmes allows women entrepreneurs to use
technology and sell their items online.
Women entrepreneurs can display their products with
descriptions and photos using simply cellphone and
internet connections. Buyers can contact, email, or visit
sellers here. Clothing, fashion accessories, pottery,
boxes, home décor, toys, and more may be sold. This
campaign promotes "Make in India" online.

Together with the Ministry of Home Affairs, the

Ministry of Women and Child Development introduced
the Mahila Police Volunteers scheme in all States and
Union Territories. This programme, funded by the
federal government, seeks to establish a connection
Mahila Police Volunteers between police authorities and local communities to
facilitate police outreach in criminal cases. This
programme aims to establish a safe environment for
women and encourages them to join the police force.
STEP (Support to Training and Employment
Programme for Women) is one of India's most effective
women's empowerment initiatives. It was implemented
STEP (Support to Training & to provide women with skill development training and
Employment Program for Women) employment opportunities. This government-sponsored
programme provides grants to institutions and
organisations for training programmes.
One of the government programmes in India designed
to empower women is called SWADHAR Greh. Its
SWADHAR Greh objectives include the provision of a safe place to live,

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 Sukanya Samriddhi Yojana- An Evaluation

Name of the Scheme Objectives

food, clothing, as well as social, economic, and health
security. Women receive legal aid through this
programme, which also encourages them to take the
effort necessary to successfully transition to society.
Mahila Shakti Kendra is another renowned Indian
women empowerment programme. It offers women
one-stop convergent support to build skills, get jobs, and
Mahila Shakti Kendras (MSK) improve digital literacy. National, state, and district
levels operate this plan. 920 Mahila Shakti Kendras will
cover the 115 poorest districts.
The government has established the National Creche
Scheme for working mothers' children. This initiative
provides creche facilities for children and promises to
Rajiv Gandhi National Creche enhance their health and nutrition. In addition, this
Scheme women's empowerment initiative promotes the
physical, social, and holistic development of children
and educates parents on how to improve their child-
rearing techniques or methods.
Source:(List of Women Empowerment Schemes in India: Eligibility & Complete Process, n.d.).

LITERATURE REVIEW
Divya Baburaj (2019) conducted a satisfaction analysis of the Sukanya Samriddhi Yojana
(SSY) to end discrimination against female children and the practise of sex determination tests
and to ensure the survival and protection of girls. The level of accountholder satisfaction with
the Sukanya Samriddhi Account and the respondents' motivations for establishing an
account(Baburaj, 2019). Sandeep Kanoi (2016) presented his findings on the Sukanya
Samriddhi Yojna (female child prosperity scheme), which had the goal of providing for the
education of girl children as well as the costs associated with their marriages. As part of the
Beti Bachao Beti Padhao campaign, the Sukanya Samriddhi Account initiative is a small deposit
initiative for female children. This scheme will fetch an annual interest rate of 8.60% (WEF
01.04.2016) and give income tax deductions in accordance with section 80C of the Income Tax
Act, 1961. A successful plan initiated by the government with a successful motto and an eye
towards the long term has been brought to a successful conclusion. Saranya and Karthikeyan
(2015) found that saving is universal, even though practises vary. Indian investors have many
investing options. Investors' understanding of saving programmes will influence people's
saving habits. Positive investors will keep investing. Investor perception affects risk tolerance
and investment range. Results demonstrated that age, experience, and tax payment affect
perception and saving behaviours. Remember that good service and return during investment
tenure will lead to favourable perception, while negative perception will persist. According to
the findings of Manikandan and Muthu Meenakshi (2017), all potential paths for investment
are seen as high-risk by investors. The security of the original amount, liquidity, the consistency
of the income, approval, and the ease of transferability are the primary characteristics of
investments. There is a wide variety of opportunities for investment, including stocks, banks,
businesses, precious metals like gold and silver, properties, life insurance, postal savings, and
so on. It is possible to draw the conclusion that the majority of people favour bank deposits due
to the fact that more respondents invested money for the purpose of buying a home and for
long-term growth.

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 Dr.Nagaraja.S

On the other hand, the vast majority of investors are unaware of the possibility of investing their
money in mutual funds and shares due to the fact that there is more debate and confusion
regarding investment patterns and investment avenues.

SUKANYA SAMRIDDHI YOJANA

One of the most common and well-liked small savings programmes in India is called the
Sukanya Samriddhi Account Deposit Scheme. The Sukanya Samriddhi Account Scheme
(S.S.A. Yojana) was officially introduced by the Honourable Prime Minister Narendra Modi.
(Female Child Prosperity Account Scheme) was launched on January 22, 2015 in Panipat,
Haryana, with the goal of funding the education of female children as well as the costs
associated with their marriages. Since that time, it has been estimated that there are
approximately 76 lakhs of them. Accounts for the Sukanya Samriddhi Yojana have been opened
in every region of the country. The total sum that has been collected through these accounts
comes to around 2,838 billion rupees. Only girl children are eligible to have a Sukanya
Samriddhi Account (SSA) formed in their names. The government has delegated the
responsibility of operating SSAs to commercial banks, both public and private, as well as post
offices. In addition to a plethora of advantages, the rate of interest and the option to save money
on taxes that come with the scheme are highly appealing, which is why an increasing number
of parents are opening a Sukanya Samriddhi Account for their daughters(Peer-Reviewed-
Refereed, n.d.).

FUNDAMENTAL CHARACTERISTICS OF THE SUKANYA

SAMRIDDHI YOJANA
The purpose of the Sukanya Samriddhi Yojana is to provide families with financial security in
the event that they are required to pay for expenses associated with the girl's higher education
or marriage. The programme is designed to take use of the power of compound interest, and
neither the accumulations nor the final withdrawals are subject to any form of income tax. A
family is allowed to open a maximum of two bank accounts for resident female children under
the Sukanya Samriddhi Yojana. These accounts can be opened at any of the numerous public
and private sector banks, as well as post offices that offer financial services. The resident female
children must be under the age of ten in order to open a Sukanya Samriddhi Yojana account.
This account, which can only be opened in the name of the female kid and serves to empower
her financially, can only be opened in her name. After the account is opened, deposits are
required to be made for a period of 14 years, but withdrawals from the proceeds of the maturity
are only permitted after 21 years have passed. A partial withdrawal is permissible at the age of
18, and a full withdrawal is permitted if a female kid gets married before the final withdrawal
becomes effective or becomes a non-resident Indian. Both of these conditions must be met for
the full withdrawal to be authorised. The lowest amount of the deposit required for each female
kid is 250 Indian Rupees (INR), and the highest amount is 1.5 Lakh Indian Rupees (INR). If an
interest rate of 8.1 percent was being offered in 2018, the cash that was placed would almost
double in 8.9 years' time. This interest rate is far greater than the rates that are currently
available on the market. However, the interest rate is subject to fluctuate in accordance with the
prevailing market rates. If a family deposits INR 5,000 for a female child every year for 14
years, but keeps the account functional till the required age of 21 years old, the accumulated
balances would be greater than INR 4.5 lakh. If the deposit is one thousand rupees every year,
the corresponding sum would be over forty-six thousand rupees. As a result, the Sukanya
Samriddhi Yojana was developed to assist families with lower incomes as well as families with
middle incomes in empowering their female children while simultaneously instilling a habit of
financial self-discipline and saving.

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 Sukanya Samriddhi Yojana- An Evaluation

As of the month of November 2017, the Sukanya Samriddhi Yojana has been responsible for
the opening of 12.6 million accounts and the deposit of 192 billion INR. This suggests that the
average amount per account by November 2017, after a span of less than three years, was
approximately fifteen thousand Indian rupees (INR). The Sukanya Samriddhi Yojana is a
programme that was started by the government of the Union. However, there is room for
manoeuvre on the part of any state to initiate schemes that are either comparable or
complimentary. Therefore, the impact of the joint efforts of the Union and the State schemes
would be broader and more profound. To properly evaluate the impact, however,
comprehensive empirical evidence-based and nuanced study would need to be conducted, first
at the national level and then at the level of each individual state.

IMPLICATIONS
The fundamental aspects of the Sukanya Samriddhi Yojana that have been explained above are
in line with the social policy that is currently being implemented by the Indian government.
This policy states that while the government will create enabling conditions, such as
technological platforms, and provide assistance through financial and other subsidies, the
family should also take the responsibility by its own actions to assist in meeting its aspirations
and improving its quality of life. It is imperative that India's social policy programmes and
debates give this culture a deeper level of consideration.
The Implications for Gender Budgeting and Women's Economic Empowerment: In addition
to the behavioural aspects discussed above, another implication of the Sukanya Samriddhi
Yojana is that the female children are the direct beneficiaries of the fiscal costs that are borne
by the Union Government. These costs correspond to the difference between the interest paid
under the Sukanya Samriddhi Yojana and the market rates that are currently available. This will
also be the case in the event that an individual state takes the initiative to begin programmes
that are comparable to or complementary to that already in place that focus on the female
children. Consequently, the gender budgeting impact of the government's social initiatives
should improve.
The society, on the other hand, needs to comprehend and acknowledge the logic behind the
aforementioned forms of behavioural change, and it also needs to respond favourably to the
Sukanya Samriddhi Yojana and other programmes that are analogous to or complementary to
it. The media, academics who specialise in social policy, researchers, and others who are in
positions of public trust have a specific obligation to the society to aid in promoting acceptance
of the desired behavioural change within Indian households.
In India, many households use their provident funds or balances in various private or public
pension schemes, such as the National pension System (NPS), to finance education for their
children's marriage, as well as to finance episodes of hospitalisation or other medical needs.
This has repercussions for social protection.
It is possible to consider the Sukanya Samriddhi Yojana to be a component of India's
system-oriented integrated social protection programme due to the fact that it not only offers
financial assistance for education but also for weddings, and account management is delegated
to the woman in whose name the account was formed. There are several different integrated
programmes that work together to address the need for health care that Indian households have.
An illustration of this would be the Ayushman Bharat Yojana (ABY), also known as the
National Health Protection Mission, which is scheduled to begin operations on September 25,
2018. (ResearchGate, n.d.). Its goal is to provide coverage for 100 million families, which
would result in an estimated 500 million beneficiaries if households were typically composed
of five people each. Hospitalisation costs for secondary and tertiary care will each be covered
up to a maximum of 5 lakh Indian Rupees (INR) per household per year under this plan.

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The Sukanya Samriddhi Yojana has the potential to contribute long term capital to the
banking system because contributions are required for 14 years, and the maturity period is 21
years. This has repercussions for the financial sector. As a consequence, the asset-liability
management of the financial system will be simplified.
Table-2 Number of Account Holders under Sukanya Samriddhi Yojana
Year No of Accounts Deposit Amount(cr)
2015 4,20,420 123
2016 69,98,870 6,773
2017 1,00,84,152 17,156
2018 1,24,28,910 31,958
2019 1,55,34,417 50,224
2020 1,92,49,624 72,880
2021 2,32,67,968 1,01,258
2022 2,93,74,765 1,39,296
Dec 2022 3,25,12,095 1,62,154
Source: (“Sukanya Samriddhi Account,” 2023)
Table-3 List of states with highest number of accounts as on 31 December 2022
States No of Accounts
Uttar Pradesh 36,07,698
Tamil Nadu 31,38,182
Maharashtra 28,75,136
Madhya Pradesh 25,27,795
Karnataka 24,48,215
Source: (“Sukanya Samriddhi Account,” 2023)
Table-4 Revisions of Interest Rates
Serial Minimum Maximum
Financial Year Date Range Interest Rate
Number Investment Investment
1 April 2014 to
1 2014-15 9.1 % 1,000 1,50,000
31 March 2015
1 April 2015 to
2 2015-16 9.2 % 1,000 1,50,000
31 March 2016
1 April 2016 to
3 2016-17 8.6 % 1,000 1,50,000
30 Sep 2016
1 Oct 2016 to 31
4 2016-17 8.5 % 1,000 1,50,000
Mar 2017
1 April 2017 to
5 2017-18 8.4 % 1,000 1,50,000
30 June 2017
1 July 2017 to
6 2017-18 31 December 8.3 % 1,000 1,50,000
2017
1 January 2018
7 2017-18 to 31 March 8.1 % 1,000 1,50,000
2018
1 April 2018 to
8 2018-19 30 September 8.1 % 250 1,50,000
2018
1 October 2018
9 2018-19 to 31 March 8.5 % 250 1,50,000
2019

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 Sukanya Samriddhi Yojana- An Evaluation

Serial Minimum Maximum

Financial Year Date Range Interest Rate
Number Investment Investment
1 April 2019 to
10 2019-20 8.5 % 250 1,50,000
30 June 2019
1 July 2019 to
11 2019-20 8.4 % 250 1,50,000
31 March 2020
1 April 2020 to
12 2020-21 7.6 % 250 1,50,000
31 March 2021
1 April 2021 to
13 2021-22 7.6 % 250 1,50,000
31 March 2022
1 April 2022 to
14 2022-23 7.6 % 250 1,50,000
31 March 2023
1 April 2023 to
15 2023-24 8.0 % 250 1,50,000
30 June 2023
Source-(“Sukanya Samriddhi Account,” 2023).

SUGGESTIONS
Along with other integrated schemes, the Sukanya Samriddhi Yojana presents an opportunity
for rigorous empirical-evidence based disaggregated studies on the impact of these efforts on
the behaviour of households at all levels of the Indian society. This opportunity has been eagerly
anticipated. The data that is currently available publically on Sukanya Samriddhi Yojana (as
well as for other programmes) is too aggregated and occurs too infrequently. However, due to
the widespread use of digital technology, relevant data may now be accessed by a wide variety
of organisations, each of which has been assigned responsibility for a particular project or effort.
Urgent consideration should be given to developing competence in data mining and data
analytics in relation to Sukanya Samriddhi Yojana and other schemes that are analogous, as
well as supporting policy-oriented research that is based on such methodologies. A ranking of
states and districts according to the Sukanya Samriddhi Yojana may be launched, with the
results being publicly publicised and discussed in order to enable learning and the drawing of
lessons, as is practised in other areas such as the ranking of ease of doing business by states and
the ranking of clean cities. It is in the country’s best interest to make strides towards a more
favourable sex ratio, and the Sukanya Samriddhi Yojana can and should play a constructive
part in those strides. Additionally, it is proposed that the implicit fiscal costs of the Sukanya
Samriddhi Yojana be included in the Statement of Tax Expenditure that is included in the
annual budget that is presented by the Union Government.

CONCLUSION
The objective of this plan is to lessen the monetary strain placed on the parents while
simultaneously fostering the development of the girl child's capacity for independent financial
management. According to the findings of the study, the amount of people in Urban Bengaluru
who are aware of this scheme is extremely low. "A fall in child sex ratio throughout the country
has called for immediate attention and for corrective measures to be taken as early as possible.
States like Maharashtra, Gujarat, Punjab, Himachal Pradesh and Haryana have recorded a more
than 50-point decline in the child sex ratio in this period with the state of Punjab being the
worst. States in the North East and in Kerala show a comparatively better sex ratio. It has been
suggested that there is a positive correlation between abnormal sex ratio and better
socioeconomic status and literacy. According to the conservative and out dated thoughts that
prevail in our society, having a female child becomes more expensive (due to dowry prices,
lack of financial return in the future, educational and health expenses) or in other words more
of a financial liability which leads to a strong preference for male children.

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 Dr.Nagaraja.S

Sukanya Samriddhi account (SSA)Launched by Sri Narenda Modi ON on 22 January 2015

is a small saving scheme in India which encourages parents of girl children to build funds to
meet their girl child’s education and marriage expense as a part of Beti Bachao, Beti padhao
campaign (Baburaj, 2019). As a result of the discovery that there is a substantial association
between the age of the respondents and their level of knowledge, the government needs to place
a greater emphasis on spreading awareness of this programme, particularly among those who
are in their early twenties to those who are in their late thirties. This would cover potential
investors as well as the parents of girl children who are currently unaware of the scheme and
who may have a daughter in the future. According to the findings of the study, account holders
would still favour the plan even if it were to be digitised (payments made using e-wallets,
money banking). Therefore, the government needs to adopt a variety of actions in order to raise
people's awareness of the programme. The lengthy lock-in period is the only thing holding back
the investors, but the numerous other perks more than make up for it.

REFERENCES
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empowerment-schemes-in-india
[3] Peer-Reviewed-Refereed, A. (n.d.). International Journal of Management (IJM)
[4] ResearchGate. (n.d.). Retrieved June 23, 2023, from
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[5] S.Roslin, & K.P. Ragavarshini. (2023). Accountholder Satisfaction Towards Sukanya
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[6] Sukanya Samriddhi Account. (2023). In Wikipedia.
https://en.wikipedia.org/w/index.php?title=Sukanya_Samriddhi_Account&oldid=1161778725

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