Tamil Nadu - Madurai   

`Small savings can fiscally empower the nation'

Staff Reporter

World Thrift Day celebrations drive home the message: Small is beautiful. "The nation will become self-sufficient and promote infrastructure development in a big way''.

MADURAI: The District Collector, D. Raajendiran, has urged the public to make modest investments in small savings schemes of the Government and derive the pleasure of seeing the nation prosper.

"Investment in small savings schemes means fiscally empowering our country," he remarked while presiding over the World Thrift Day celebrations organised by the Small Savings Department at the Collectorate here on Thursday.

The sum invested in the schemes was used by the State and Central governments to take up development works. Of course, the governments provided a matching grant to the district administrations to undertake the works, he added. On the flip side, the depositors or investors were given interests as high as eight or nine per cent.

He said infusing the habit of savings among the people would go a long way in promoting the cause of the country. "The nation will become self-sufficient and promote infrastructure development in a big way by using the funds provided by people. Further, this would enable the nation to become self-reliant in terms of managing its financial resources and need not approach the World Bank for assistance," he said.

He directed the officials to popularise the savings schemes and drive home the message that frugality too could save the family and the nation. Further, the schemes provided tax benefits.

Later, Mr. Raajendiran distributed prizes to school students who distinguished themselves in various competitions such as elocution, essay writing, poetry, dance, drama and painting held to mark the World Thrift Day. S. Rajendiran, Personal Assistant to Collector (Small Savings), and the District Educational Officer, V. Subbian, spoke.

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