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         The report indicates that in India, the  time new small savings scheme, Mahila
         inflation rate of 5.7 per cent in Decem-  Samman Savings Certificate, will be  Attention Subscribers
         ber 2023 was primarily influenced by  made available for two years up to  Please renew your Subscription of The
         the fluctuating prices of vegetables  March 2025. This will offer a deposit  Insurance Times Journal to receive
         and inflation in foodgrains. "This will  facility up to Rs. 2 lakh in the name of  copy of the journal uninterruptedly.
         keep RBI cautious on the rate front as  women or girls for a tenor of two years  You can now pay by GPAY, Phonepe,
         it eyes the four per cent inflation tar-  at a fixed interest rate of 7.5 per cent  Paytm, Amazon, ICICI Pay, BHIM UPI
         get," CRISIL said.                 with partial withdrawal option."
                                            TDS (tax deducted at source) is not
         Mahila Samman Savings              applied on interest earned on MSSCS,

         Certificate          deposits      but interest income will be added to
                                            total income for tax calculation. MSSCS
         topped Rs. 14,500 crore in         is classified under "sub-clause (c) of
         Apr-Dec                            clause (i) of sub-section (3) of section
                                            194A of the Income-tax Act, 1961".
         Over 22.5 lakh accounts have been
                                            Section 194A deals with provisions re-
         opened  under the  Mahila Samman
                                            lating to TDS on interest other than
         Saving Certificate Scheme (MSSCS) in
                                            interest on securities. Tax is to be de-
         the first nine months of the fiscal with  ducted under section 194A if interest
         a deposit of over Rs. 14,500 crore.  (other than interest on securities) is
         The scheme was announced in the last  paid to a resident.
         budget. "Mahila Samman Savings Cer-
         tificate provides financial advantages  Pharma  exports  touch
         to women and encourages them to
         take charge of their finances and make  $20.40 billion
         informed decisions", said the Finance  Pharmaceutical exports grew 8.2 per
         Ministry in a social media post high-  cent  in  April-December,  2023,  to
         lighting delivery of budget promises.  $20.40 billion as compared with $18.85
         The scheme was notified on March 31  billion in the corresponding period of
         and made available through 1.6 lakh  the previous financial year.
         post offices from April 1.         "The growth in exports in the first nine  Sashi Publications Easy Payment
         Data shows, Maharashtra circle leads in  months of current financial year was  Modes :-
         opening accounts under MSSCS with  driven by a double-digit growth of the  i) UPI ID: SASHIBOOKS@KOTAK
         over 4.5 lakh accounts and deposits of  US exports at 11.5 per cent, which  ii) GPAY: 9830171022@okbizaxis
         over 2,800 crore followed by Tamil Nadu  pushed up overall exports to NAFTA  iii) PAYTM: 9830171022@paytm
         circle (around 3.5 lakh accounts, around  (US, Canada and Mexico) by 10.4 per  iv) NEFT: Current A/C
                                            cent," R Uday Bhaskar, Director-Gen-
         Rs. 1,600 crore of deposits), Odisha                                      402120110000327 of 'SASHI
         circle (over 2.5 lakh accounts, over Rs.  eral, Pharmaceuticals Export Promo-  PUBLICATIONS PRIVATE
         1,000 crore of deposits), Karnataka  tion Council (Pharmexcil) told.      LIMITED, Bank of India, VVK
         circle (around 1.7 lakh accounts, around  Formulations  continue to have the  Road Branch., Kolkata, India,
         Rs. 1,200 crore of deposits) and Andhra  highest share in exports at about 73  IFSC Code : BKID0004021
         Pradesh circle (over 1.3 crore accounts,  per cent.
                                                                                 v) Credit Card:
         over Rs. 600 crore of deposits).   "Exports to the UK are also increasing  www.sashipublications.com
         Finance Minister Nirmala Sitharaman  at 20.5 per cent while the West Asia  For  any  query  please  call
         in her speech for the 2023-24 Union  and North Africa (WANA) region has
                                                                                 9073791022/9883398055
         Budget announced: "For commemorat-  been  witnessing  good  traction,"
         ing Azadi Ka Amrit Mahotsav, a one-  Bhaskar said.                      www.sashipublications.com

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