The central government, under Prime Minister Narendra Modi, has introduced numerous schemes for public welfare. One notable scheme, Sukanya Samriddhi Account, was launched under the Beti Bachao Beti Padao campaign in 2014. This scheme, specifically for girls, allows parents or guardians to open an account in the name of their daughters at an early age with minimal investments, leading to substantial long-term returns.

The scheme offers an 8.20% interest rate, one of the highest among small savings schemes, which is revised quarterly by the government. Investments in this scheme qualify for a tax exemption of Rs. 1.50 lakh under Section 80C. The minimum deposit is Rs. 250, with a maximum of Rs. 1.50 lakh per year. Accounts can be opened at any post office or bank and are valid for 15 years.

Maturity occurs 21 years after account opening, and partial withdrawals are allowed after the child turns 18 or completes 10th grade. For instance, investing Rs. 5,000 annually for 15 years will yield Rs. 27,71,031 at maturity. Higher investments lead to greater returns, potentially reaching up to Rs. 69,27,578 with the maximum annual contribution.