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Those who have crossed 60 years and those who have retired from service after 55 years of age, are eligible to join the SCSS scheme. The maturity period is five years.
The finance minister also emphasised that the country offers "immense attraction" for domestic as well as foreign tourists.
Further, the government will set up National Financial Information Registry for facilitating the efficient flow of credit and fostering financial stability.
Finance Minister Nirmala Sitharaman made this announcement during her Budget speech in the Lok Sabha.
Finance Minister Nirmala Sitharaman added that 47.8 crore JanDhan accounts have been opened.
Presenting the Budget for 2023-24, Finance Minister Nirmala Sitharaman added that an expert committee will also be set up to make infrastructure classification and financing framework suitable for Amrit Kaal.
To spur a movement for environmentally conscious lifestyle, India is moving firmly for the panchamrit, the net zero carbon emission by 2070, usher in green industrial and economic transition. This budget builds on our focus on green growth," said Finance Minister Nirmala Sitharaman.
The budget for ‘23-24 comes at the end of a landmark financial year, when India is set to record the highest growth among the large economies of the world, including China.
It will be the 259th session of Rajya Sabha and 11th session of the 17th Lok Sabha.
The govt, nevertheless, this month sought an additional 164 billion rupees ($1.99 billion) for the programme above the budgeted 730 billion rupees for the current financial year.