Several savings schemes have been launched by the government in order to encourage people to invest in government-backed schemes. If you are looking for risk-free investments that come with tax benefits, then here are some schemes that you can consider investing in. These schemes are implemented through banks, financial institutions and post offices.
Government Securities (G-Secs)
Retail investors have a number of ways to invest in government securities Treasury bills (T-Bills) and the Government of India (GoI) dates bonds on the primary market. The maturity period varies from 91 days to 40 years, depending on the length of the particular arrangement of the liabilities of the respective organizations. No TDS is applicable on the interest and G-Secs can be stored in the current demat account. G-Secs can also be used as collateral to borrow funds in the repo market.
Sovereign Gold Bonds (SGBs)
The SGBs are issued by the Reserve Bank of India on behalf of the GoI and is denominated in grams of gold. Investor must pay the agreed price in cash and the bonds will be redeemed in cash at the time of maturity. SGB is exempt from making charges and purity and also eliminates the risks and cost of storage. The bonds can be held in demat form and TDS is not applicable.
Atal Pension Yojana (APY)
The Atal Pension Yojana is a guaranteed pension scheme by the government to provide financial security to those employed in the unorganized sector like maids, drivers, gardeners, among others. Under this, a fixed minimum pension will be provided at the age of 60 years depending on the donation rendered by the subscribers. It comes with tax exemption under section 80CCD of the Income Tax Act, 1961. The GoI also contributed 50 percent of the subscriber’s contribution or Rs 1000, whichever is lower.
National Pension Scheme (NPS)
NPS is a pension scheme for someone who wishes to schedule early retirement and has a low-risk appetite. There is a deduction of up to Rs 1.5 lakh. It provides seamless portability across jobs and locations. Until retirement, the accumulation of pension wealth rises over time with a compounding effect.
Sukanya Samriddhi Yojana
The scheme is designed for the girl child and investments of up to Rs 1.5 lakh are excluded under section 80C of the income tax act. The account can be opened in the name of the girl child by any parent or guardian till the child attains 10 years of age. The account can be opened in banks or even in post office.
Prime Minister Vaya Vandana Yojana (PMVVY)
This scheme is designed for senior citizens. The pension is payable at the end of each period during the policy term of 10 years, as per the frequency requested. Loan up to 75 percent of the purchase price will be allowed after three policy years.
Pradhan mantra Jeevan Jyoti Bima
This is a term insurance plan that aims to secure your family’s future with a life cover. It offers life insurance cover for death due to any reason and provides death coverage of Rs 2 lakh to the beneficiary in case of sudden demise.
National Savings Certificate (NSC)
NSC provides guaranteed return and bears practically no risk. It comes with a fixed maturity period of Rs 5 years. There is no upper limit on the purchase of NSCs but only Rs 1.5 lakh is exempted from income tax.
Airline CEOs, Biden Officials Consider Green-Fuel Breaks
Chief executives of the nation’s largest passenger and cargo airlines met with key Biden administration officials Friday to talk about reducing emissions from airplanes and push incentives for lower-carbon aviation fuels.
The White House said the meeting with climate adviser Gina McCarthy and Transportation Secretary Pete Buttigieg also touched on economic policy and curbing the spread of COVID-19 travel has been a vector for the virus. But industry officials said emissions dominated the discussion.
United Airlines said CEO Scott Kirby asked administration officials to support incentives for sustainable aviation fuel and technology to remove carbon from the atmosphere. In December, United said it invested an undisclosed amount in a carbon-capture company partly owned by Occidental Petroleum.
A United Nations aviation group has concluded that biofuels will remain a tiny source of aviation fuel for several years. Some environmentalists would prefer the Biden administration to impose tougher emissions standards on aircraft rather than create breaks for biofuels.
Biofuels are false solutions that dont decarbonize air travel, said Clare Lakewood, a climate-law official with the Center for Biological Diversity. Real action on aircraft emissions requires phasing out dirty, aging aircraft, maximizing operational efficiencies and funding the rapid development of electrification.
Airplanes account for a small portion of emissions that cause climate change about 2% to 3% but their share has been growing rapidly and is expected to roughly triple by mid-century with the global growth in travel.
The airline trade group says U.S. carriers have more than doubled the fuel efficiency of their fleets since 1978 and plan further reductions in carbon emissions. But the independent International Council on Clean Transportation says passenger traffic is growing nearly four times faster than fuel efficiency, leading to a 33% increase in emissions between 2013 and 2019.
The U.S. accounts for about 23% of aircraft carbon-dioxide emissions, followed by Europe at 19% and China at 13%, the transportation group’s researchers estimated.
The White House said McCarthy, Buttigieg and economic adviser Brian Deese were grateful and optimistic to hear the airline CEOs talk about current and future efforts to combat climate change.
Nicholas Calio, president of the trade group Airlines for America, said the exchange was positive.
Airlines are ready, willing and able partners, and we want to be part of the solution” to climate change, Calio said in a statement. We stand ready to work in partnership with the Biden administration.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor
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