Author: Naresh Saini

The Indian government has launched the PM Surya Ghar Free Electricity Scheme to encourage households to generate their electricity through solar energy. Announced in February 2024, this scheme aims to promote solar rooftop systems and reduce the dependence on traditional power sources. With a budget of Rs. 75,021 crore, the program is expected to run until the financial year 2026-27, offering significant benefits to the common citizen. Key Features of PM Surya Ghar Free Electricity Scheme The scheme is designed to help families save on electricity bills by installing solar panels on their rooftops. Under this plan, the government is…

Investing in shares through a Systematic Investment Plan (SIP) is gaining popularity among investors who wish to minimize risks and maximize gains. SIPs have long been associated with mutual funds, but many brokerage firms now offer SIPs for stock investments. With this method, you can steadily invest in shares over time, reducing the impact of market volatility. Let’s take a closer look at how you can begin investing in shares via SIP through a Demat account. This guide breaks down the steps in a simple way, suitable for beginners. Step 1: Open a Demat Account with a Brokerage To start…

Public Provident Fund (PPF) is a popular savings option offered by the Government of India, managed by India Post and accessible through various banks. It’s known for its tax benefits and stable interest rates, currently set at 7.1%. Traditionally, PPF matures after 15 years, but there’s an option to extend it in 5-year blocks, allowing for more significant returns. By extending your PPF account to 20 years, you can build up a substantial balance that can offer a steady monthly income. Let’s explore how you can maximize your PPF account and benefit from this long-term investment strategy. Understanding PPF Extension…

The Pradhan Mantri Awas Yojana (PMAY) scheme helps individuals buy or construct homes by providing an interest subsidy on home loans. It reduces the loan repayment burden, making homeownership more affordable. But few people are aware that the government can take back the subsidy under certain circumstances. If this happens, the subsidy amount gets added back to the loan’s principal, increasing the EMI burden for the borrower. Below are three key conditions under which the government can withdraw the PMAY subsidy. 1. Loan Defaults and NPA Status One of the primary reasons for losing the PMAY subsidy is if the…

In a world where young investors dive into stock market charts and technical analysis, one elderly man has quietly built a massive fortune in the stock market without any of the usual tools or strategies. Known as the ‘Billionaire Baba,’ this simple man with a remarkable Rs 100 crore portfolio has become an inspiration for investors everywhere. His story shows that wealth can be built with patience, wisdom, and a peaceful mindset. Who is the Billionaire Baba? Recently, a video went viral on social media, capturing the attention of many. It featured an elderly man who, despite his unassuming appearance,…

The Modi government is gearing up to bring significant reforms to the Employees’ Provident Fund Organization (EPFO), aiming to improve the system for millions of workers across India. The changes include raising the minimum pension, simplifying withdrawals, and making the scheme more attractive for those earning above ₹15,000 per month. Key Changes on the Horizon for EPFO Subscribers Changes in IT Infrastructure for Better Service To make these reforms successful, the government has also ordered a complete overhaul of EPFO’s IT infrastructure. This change will ensure that the system becomes more user-friendly and responsive to customer complaints, which have often…

The Life Insurance Corporation of India (LIC) has launched a new insurance product aimed at catering to financial institutions and unorganized groups. This product, called the Group Micro Term Insurance Plan, is a single-premium, pure-risk policy designed to provide financial security to members of various institutions, including microfinance organizations, cooperative societies, self-help groups (SHGs), and NGOs. The plan also extends coverage to employee groups and unorganized sectors, helping provide a safety net for their members. Key Features of the Group Micro Term Insurance Plan LIC’s Group Micro Term Insurance Plan is crafted to serve the needs of financial institutions and…

Saving money is a habit everyone should develop, but finding the right place to invest that ensures both safety and high returns can be tricky. If you are looking for a safe investment plan, the Post Office Recurring Deposit (RD) Scheme might be the perfect option for you. With this scheme, you can turn a small daily deposit of Rs. 333 into Rs. 17 lakh for 10 years. This plan offers guaranteed returns and is a risk-free way to grow your wealth with minimal effort. Let’s break down how this scheme works and why it’s considered one of the best…

Sukanya Samriddhi Yojana (SSY) is an ideal savings scheme for parents who want to secure their daughter’s future while enjoying great returns and tax benefits. Launched under the government’s Beti Bachao, Beti Padhao initiative in 2015, this scheme offers an impressive interest rate of 8.2%, providing a safe and secure investment option for long-term financial planning. With disciplined monthly investments, parents can accumulate up to Rs. 80 lakhs by the time their daughter turns 21. Here’s a detailed look at how this scheme works and how it can benefit you and your daughter. What is Sukanya Samriddhi Yojana? Sukanya Samriddhi…

When it comes to financial security and future planning, LIC Jeevan Anand Policy stands out as a promising option for investors seeking both life insurance and good returns. This traditional endowment plan provides a robust maturity benefit alongside life coverage, making it an excellent tool for long-term wealth creation. For those with a goal of accumulating a large corpus, this policy offers a unique opportunity. By saving just Rs 45 per day, you can potentially build a fund of Rs 25 lakh over 35 years. How LIC Jeevan Anand Policy Works LIC Jeevan Anand Policy combines life cover with savings.…