Question
Consider the following statements regarding the "National Small Savings Funds (NSSF)":
Select the correct answer using the code given below:
- The proceeds of the small savings scheme of the Central government goes to NSSF
- NSSF is a part of the Public Account of India
- NSSF is a part of the Consolidated Fund of India (CFI)
Select the correct answer using the code given below:
Answer: Option A
Answer: (a)
Post Office Savings Account, National Savings Certificate, Public Provident Fund, Kisan Vikas Patra, Sukanya Samriddhi Account are all Small Savings Schemes and the funds accruing in through these schemes goes into National Small Savings Funds (NSSF) maintained in Public Account of India. These all receipts create debt on the Government of India and are capital receipts.
National Small Savings Fund (NSSF) was set up on 1st April 1999 under the Public Account of India. The objective of NSSF was to account for all the monetary transactions under small savings schemes of the Central Government under one umbrella. The net collection in NSSF is invested in Central and State Government Securities.
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Answer: (a)
Post Office Savings Account, National Savings Certificate, Public Provident Fund, Kisan Vikas Patra, Sukanya Samriddhi Account are all Small Savings Schemes and the funds accruing in through these schemes goes into National Small Savings Funds (NSSF) maintained in Public Account of India. These all receipts create debt on the Government of India and are capital receipts.
National Small Savings Fund (NSSF) was set up on 1st April 1999 under the Public Account of India. The objective of NSSF was to account for all the monetary transactions under small savings schemes of the Central Government under one umbrella. The net collection in NSSF is invested in Central and State Government Securities.
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