The Hindu : Karnataka News : State surpasses target in small savings

Online edition of India's National Newspaper
Wednesday, Mar 02, 2005

Karnataka

Karnataka

State surpasses target in small savings

By Our Staff Correspondent

BELGAUM, MARCH 1. A sum of Rs. 3,432 crores has been mobilised in the State under Small Savings Scheme from April 1 last year to February 28 this year, which marks an increase of Rs. 432 crores against the target of Rs. 3,000 crores fixed for the current financial year.

The government initially fixed a target of mobilising Rs. 2,600 crores from small savings scheme during the year. After Basavaraj Horatti was appointed Minister for Small Savings, he raised the target by Rs. 400 crores. The Minister now hopes that the final figure by the end of March will cross Rs. 3,500 crores.

Mr. Horatti, who addressed officials and distributed incentives to authorised agents here on Monday, said people continued to invest in small savings scheme as they continue to express trust in the Government.

He said the Government had released Rs. 19 crores as incentives to authorised agents as a token of encouragement. Another Rs. 21 crores will be released soon. The Government has not released the incentive for the last four years. To check against irregularities, cheques are being distributed through the Deputy Commissioners. With more than 40,000 agents depending on Small Savings Scheme, it is the responsibility of the Government to protect them and ensure justice, he said.

The Deputy Commissioner, M. Maheshwar Rao, complimented the agents for surpassing the target of Rs. 170 crores set for the district for the current financial year. Till the end of last month, the mobilisation under the scheme was Rs. 179 crores.

He was hopeful of touching the Rs. 200-crore mark by March-end.

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