The popular long term investment scheme for the girl child, Sukanya Samriddhi Yojana (SSY), which had rolled out in 2015 with the aim of giving parents an opportunity to build a long term corpus which would be useful for funding the child’s education and career, has witnessed a spurt among states across the country in terms of opening of accounts. Uttar Pradesh, the country’s most populous state is currently holding the top spot as more than four lakh SSY accounts were opened there during 2020-21.
According to Finance Ministry figures, during the financial year 2020-21 a total of 4,15,818 accounts were opened in Uttar Pradesh under SSY.
After Uttar Pradesh, Karnataka and Rajasthan are the other two states which witnessed opening of maximum number of SSY bank accounts during 2020-21, according to official data.
While 3,92,319 accounts were opened in Karnataka, in Rajasthan 3,55,195 SSY accounts were opened.
Uttar Pradesh recording opening of such a large number of SSY accounts is a heartening development, considering the fact that its sex ratio was a poor 912 women for every 1,000 men as per the 2011 census figures. Also the child sex ratio was an abysmal 902 female child for every 1,000 male child.
The same goes for Rajasthan too, which has seen a fairly huge amount of SSY bank accounts being opened during 2020-21. According to the 2011 census, sex ratio in Rajasthan was 928 women against every 1,000 men. The child sex ratio was worse as there were only 888 girls against 1,000 boys.
Only Karnataka, which has recorded the second largest number of SSY accounts being opened, has a better sex ratio of 973 women against 1,000 men. The child sex ratio too is slightly higher at 948 girls against 1,000 boys.
The SSY account has to be mandatorily closed after 21 years of its opening and the maximum amount that can be deposited in it is Rs 1,50,000 annually.