Balika Samriddhi Yojana (BSY)

Balika Samriddhi Yojana is a government initiative focusing on the welfare of girl children in poor families. It was launched to promote education and health; the scheme provides financial assistance to eligible families. This article explores the key aspects of the program, including its objectives, benefits, and eligibility criteria.

What is Balika Samriddhi Yojana?

Introduced in 1997, the Balika Samridhi Yojana is a government social welfare scheme aiming to boost the education and well-being of the girl child. It provides financial incentives for their education and health, discouraging child marriage and promoting gender equality. The scheme encourages families to open bank accounts in the girl's name. By addressing socio-economic challenges, the Balika Samridhi Yojana empowers girls, enabling them to lead better lives and contribute to society.

The Balika Samridhi Yojana lays a strong foundation for a girl's future. Consider supplementing it with a fixed deposit (FD) in her name. FDs provide guaranteed returns and can help you reach specific financial goals for her education and beyond.

Key features of Balika Samriddhi Yojana

Here are some key features of Balika Samriddhi Yojana:

• Bringing positivity and change in how families and communities view girls and mothers.
• Protecting and improving girl’s attendance and enrolment in schools.
• Properly caring for girls until they reach a legal marriageable age.
• Supporting girls and motivating them to pursue income-generating opportunities for better well-being.

Benefits of Balika Samriddhi Yojana

The Balika Samridhi Yojana scheme offers the following benefits:

• After the birth of a girl child, a sum of Rs. 500 will be paid.
• School-going children receive an annual scholarship based on their academic year.

Also read: Government Girl Child Schemes

How to apply for Balika Samriddhi Yojana?

In rural areas, the Integrated Child Development Services (ICDS) manages this scheme, while in urban areas, the health department manages it. Families eligible for Balika Samridhi Yojana can follow these application process:

1. Obtain application forms from Anganwadi workers in rural areas or health department functionaries. Different forms exist for urban and rural beneficiaries.
2. Fill in all required details on the form.
3. Submit the completed form.

Eligibility criteria for BSY Yojana

To benefit from the Balika Samriddhi Yojana, a girl child must meet a set of predetermined criteria.

• If a girl’s family belongs to the Economically Weaker Section (EWS) and Below Poverty Line (BPL) families.
• The couple benefiting from the scheme should not be taxed on their earnings.
• Not receiving a pension or financial support from the Indian government or local organisations.
• The scheme provides funds only to girls completing their high school education.
• Limited to 2 girl child each family.
• The annual income of the parents or guardians of the girl children must not exceed Rs. 2 lakh.

Documents required for Balika Samriddhi Yojana

• Girl child's birth certificate.
• Legal guardian or parents' address proof (driving license, passport, utility bills, ration card, voter ID, or any government-issued proof).
• Legal guardian or parents' identity proof (PAN card, passport, voter ID, matriculation certificate, or any government-issued certificate for girl child's identity validation).

Also read: Saving scheme for girl child

Some other factors to be kept in mind

• The financial benefits, including the post-birth grant and annual scholarship, are directly credited to the girl child’s account.
• This account must be interest-bearing to ensure maximum growth of the deposited amount.
• Beneficiaries are encouraged to opt for saving schemes like the Public Provident Fund  (PPF) or National Savings Certificate (NSC) to earn better interest.
• A portion of the grant and scholarship may also be used to pay premiums under the Bhagyashri Balika Kalyan Bima Yojana. The remaining scholarship amount can cover expenses like textbooks and uniforms.
• Once the girl turns 18 and provides proof of being unmarried, she can withdraw the entire amount from the account.
• If she marries before 18, she may lose access to the scholarship and interest, receiving only the post-birth grant with interest.
• In the unfortunate event of the girl’s death before turning 18, the entire accumulated balance can be withdrawn.

Interest Rates for Balika Samriddhi Scheme

Balika Samriddhi Yojana offers reasonable interest rates on the amount deposited in the beneficiary’s account. However, it does not allow withdrawal of the deposited sum before the maturation of the scheme. The beneficiary girl children are allowed to use a portion of the deposited amount to purchase their books and uniforms, though.

Conclusion

Balika Samriddhi Yojana emerges as a valuable government effort to support the well-being of girls in financially challenged families. This article has aimed to provide basic insights into the program, outlining its objectives. By focusing on education and health, this yojana helps to bring positive changes to the lives of eligible girls.

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