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Question
To provide security for his family in his retirement years Leela’s father invested money in various schemes. Suggest the appropriate scheme he should adopt.
- Public Provident fund
- Ujwala Yojna
- Kisan Vikas Patra
- Wellness scheme
Options
Only iv
Both i and iv
Both i and ii
Both i and iii
Solution
Both i and iii
Explanation:
i. Public Provident Fund (PPF): The PPF is a long-term investment scheme offered by the government that provides attractive interest rates and tax benefits. It is a safe and secure option for building a retirement corpus due to its stable returns and government backing.
iii. Kisan Vikas Patra (KVP): KVP is a savings scheme that doubles the invested amount over a predetermined period. It is also backed by the government, ensuring safety and reliability. This scheme is suitable for long-term investments aimed at securing financial stability in retirement.
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