It is a human nature to feel safe and secured physically, mentally, socially and financially. We human beings want to be fully secured and the financial security is one of the basics and most essential features of our livelihood. Since the future is unpredictable, for a smooth and a better livelihood we all make savings and financial investments. And moreover investments and savings are two quintessential necessities of all the times which are helpful and beneficial especially in the times of financial crisis and frequent inflation. There are different mediums in which we can save and invest our money; however everyone chooses the medium of saving according to their suitability. Just for the information I would like to describe the mediums of money investment, precisely.
From a long term point of view, one may simply choose to open up a Saving Bank Account in the Bank that is provided with high rates of interest. Then, one can invest the money in Bonds and Gilts however the value of money may fall or rise in both of these provisions. Bonds belong to the corporate stock market whereas gilts are Government’s bonds. Bonds are sometimes also known as High Yield investment because of their higher returns, but Gilts usually involve lower returns, although, both of the mediums are suitable for less risk takers. Further, one may also choose the medium of investing in Property. This has been one of the oldest ways of making huge investments as well as savings. Property funds are mostly referred to be safer than bonds, dividends or equity-based investments. Property funds can be derived from business contract/dealings in which the property can be given on lease and rent basis and a confirmed amount of money will be received every month. Another medium of money investment; is Shares (Equity), which is a very old medium and also involve a high rate of risk. And lastly, there are Funds in which one can invest the money. There are hundred kinds of funds available today having different objectives and specifications.
So, the aforesaid were the mediums for money investment and the one thing that is very clear to us now is that every single investment is fruitful in some way thus, we should cautiously plan and choose the right medium for investing our hard-earned money. Besides this, following are some of the benefits of investment and saving the money which will prove to you that why it is so significant:
- Provides financial security for varied future purposes like; crisis, medical treatment, old age, marriage and etc.
- Helps to manage in the period of inflation.
- Gives conformity for a regular income.
- Helps to achieve the financial goals.
- Helps in attaining a better and a simplified livelihood.
- Inculcates good habits in youngsters and adults of making savings and utilizing the money in a proper manner.
So far, I have talked about investing the money, in general but now onwards I would like to take a step further and will be discussing about the same in a much broader term. As we all have understood that money investment is always beneficial for everyone, so I want to raise one simple question here; that why to limit those benefits only to ourselves? Why should not others also be benefited by the same? Besides, making our lives better we also have certain responsibilities towards our country being its citizens. The investments that we make to bring prosperity in our lives can also be made for making a wealthy and a prosperous country.
If we can invest huge amount of money for our better future then being a true citizen a proud Indian, we should also choose and decide to invest some amount of money for the development and growth of our nation that helps it to become strong and also to the sustain that development. In my opinion, there should not be any second thought while doing so after all, our identity is strengthened by our nation and it is very important to help the country to become economically and globally strong. Now, the question may be raised, that how and what we can do, that facilitates the process of nation building, that helps the nation to grow and develop? And the answer to this lies in investing the money in National Saving Certificates (NSCs, One of the Governmental Saving Schemes).
WHAT ARE NATIONAL SAVING CERTIFICATES (NSCs)
NSC is basically a Governmental saving scheme and it is only available at the leading Post Offices of the country. There are two types of NSC saving schemes issued by the Indian Post Offices, and these are:
1). NSC VIII issue.
2). NSC IX issue.
These two of the NSC saving schemes share most of the common features but they do differ at some points as well that we will discuss shortly. But for a better understanding let us first consider the common features of these two types of NSC saving schemes.
- Firstly, both of the NSC saving schemes can easily be accessed. Right from a businessman to a salaried/government service man can easily avail the schemes and invest the money into the same.
- Secondly, both of the schemes have no pre-decided limit for investment. Any amount of money whether small or huge can be invested as per the convenience of the investor.
- Thirdly, both of the NSC schemes provide easy procedures for opening the Account in the name of the investor, jointly with someone else or on the behalf of the minor.
- Fourthly, in both of the NSCs the amount of interest gets accumulated after every six months.
- In both of the issues, new rates of interest are applied on 1st April of every year. This is being done in order to encourage the new investors who want to invest their money in NSCs.
- Another common feature is that even the leading banks of the country provide free loans to purchase NSCs which makes the factor of affordability much easier for the investors.
- Lastly, under both kinds of schemes the certificates could be purchased in the classification of Rs 100, 500, 1000 and 10,000.
So, these have been the common features of the two of the issues of NSCs and now let us ponder a little upon the difference between these two. However, not a major difference has been found between them but only the ‘period of maturity’ and the ‘rate of interest’ are the two factors that make the issues different from each other. Such as, the issue NSC VIII comes with the validity of a period of 5 years and whereas NSC IX issue comes with the validity of a period of 10 years. The rate of interest in the former issue is 8.5 % for the period of 5 years whereas the interest rate for the later issue is 8.8% for the period of 10 years.
WHY SHOULD YOU INVEST IN NSCs?
There are certain reasons and I would say some advantages attached to the investment in National Saving Certificates which actually work as a motivator for the investor and encourage him or her to make a worthy investment for not only the personal benefit but also for the benefit of the country.
- First all of as compared to the other saving schemes like funds, equities, gilts and bonds, the risk factor involved in the investment in NSCs is absolutely absent. In fact, National Saving Certificates in India are considered to be the highly secured medium of making investment of money. One can freely and without any fear of facing a risk in the future, can invest in these saving schemes. There is in fact an assured profit only, instead of any uncertainty.
- Since the leading banks provide free loans against the NSC schemes thus, one has not to worry about the money if he/she wants to invest a big amount in the certificates.
- In order to give a boost up to the new investors the rate of interest keeps on changing but that too does not affect the current investors in any way.
- Investment made up to Rs.1, 00,000 qualifies for a tax deduction under the Section 80C of the Income Tax Act.
The aforesaid factors confirm that investment in NSCs is extremely flexible, easily affordable and yet profitable. But as I also said that advancing the money in these schemes is also beneficial for the country, so now let us see how does the investment in national saving schemes become favourable for the process of nation building. When a person chooses to invest in National Saving Certificates he/she is actually directly facilitating the money to the nation in order to utilize it in the developmental tasks, policies, plans and activities. In my opinion every citizen of our country should plan to purchase a National Saving Certificate every year according to the affordability, and should become a building block in the path of country’s development. The concept of National Saving Certificates was introduced in India with a vision of bringing prosperity, increase in gross national income and advancement in the nation. It would be an incredible execution from each one of us (at least those who are educated and well settled) to invest some amount of our hard-earned money in the process nation’s enrichment. The nation needs direct capital to invest it in the huge projects for actualizing its development and growth and I think it is appreciable on the part of the government to provide such easily accessible saving schemes to the citizen just to let the direct capital flow in. Entrusting in these saving schemes is also a way to become an active and aware member of the society as well as of the country, and here I would especially like to refer to the Indian Youth who should display a keenness and enthusiasm for making investment in National Saving Certificates. I do not think that it is actually so tough for the youth to invest an amount of Rs 100/500 to purchase a NSC, in fact, more than this amount we usually spend on miscellaneous things so why can’t we make a constructive use of our investment. Moreover, we get a Tax rebate that is again a motivating factor and becomes a beneficial cycle in which we help the country and in return the country helps us. We all must make a wise choice by choosing National Saving Certificate as one of the mediums of investing our money.
INVEST IN INDIA’S DEVELOPMENT
A wise person thinks logically, practically an off course his actions are constructive, he/she very well understands the value of money and time thus whatever he pursues is always productive and useful. But there are also some people who can be fooled very easily and who do not know where to utilize their time, money and energy and this ignorance instantly becomes propitious for few of the fake NGOs and groups who in the name of the country, soldiers, Indian Army and patriotism misuse their money and sentiments. In the recent few years it has become a trend of deceiving the people and encouraging them for doing nonsense things which have nothing to do neither with their personal growth nor with the growth of the country. Few of the fake groups have been emerged in the recent times which just for the name sake show that they are true patriots and their objectives and functions promote patriotism and nationalism among the youth and the other people of the nation. But, the reality is little bitter and that is that the actions they pursue in the name of patriotism and nationalism are actually inspired by their selfish motives.
Surprisingly the people who form these groups are in reality very learned and civilized people and instead of following their actions under the conduct of truth, kindness, humanity and genuineness they rather choose to bluff the innocent patriots. Their intentions are to make personal profits by counterfeiting people’s sentiments for the motherland, they are grabbing a huge amount of money from the innocent patriots in the name of Indian Army and Soldiers, they are organizing unproductive activities such as offering tours and bike-rides to Leh-Ladakh just to give Salutation to the Soldiers posted in the dense valleys of Ladakh. The amount they charge from a single biker and for a tour of 5-6 days costs between Rs.25, 000 – 30,000 and in a way they actually accumulate Rs.6-7 Lacs from such insubstantial activities. And the heights are crossed when these groups escape from Tax submission by showing that they are operating in the name of the country/motherland. They are in reality extorting the money of the innocent people and also deceiving the motherland, and they have actually made it like their fulltime ‘Business/Profession’. There is nothing wrong in earning money but not at least through the fraudulent means, like any other tour operators these groups should also pay their due Taxes. But escaping from Tax submission and grabbing the money in the name of Army that is not even benefiting the Soldiers or even their families in anyway, is completely Unacceptable.
Truth cannot be suppressed and always is the ultimate victor. So, we should tread on the righteous path. — Yajur Veda
Then there are few of the fake NGOs running openly (we are referring them as fake because they are actually not doing what a NGO is ethically supposed to do). A NGO is meant for the welfare of the deprived and the unprivileged sections and people of the country. Its prime objective is to promote humanity and charity among the people, but when these good intention turn into selfish drives and hoaxes then the authenticity of that NGO is considered to be fake. These fake NGOs are running on the foundation of greed and selfishness. They want to fill their own pockets by the money that was supposed to be utilized for the welfare of the needy people. The scenario became worst when these fake NGOs began to sell basic products such as Joota, Chappals and T-shirts, Chocolates, sweets in the name of Indian Martyrs and Soldiers. They are trying to make the people emotionally fool by provoking their emotions they have for the martyrs and the Indian Army, and the kind of quality they provide against the products they are selling, is just ‘C’ Grade and pathetic. For instance, they are selling a simple plain T-shirt with a logo of any martyr or soldier or even a logo of our national flag/tri-colors/National Emblem at the cost of Rs.400/- whose actual cost is just between Rs.70-80, and the quality is so miserable, and this misery continues with the pride feeling of those innocent people who buy and use those products because they think they have done a great job and charity for the nation. Basically, these fake NGOs have commercialized the feelings of patriotism, nationalism and charity.
They do not feel any hesitation and fear in this act of burglary rather they are trying to expand their horizon by involving and inviting few of the prestigious Indian Army Officers to join and promote their cause. They have created a safe wall of so called “Patriotism” around them that allows them to accomplish their greedy motives and to deceive the innocent people of our country. The people should understand the fact that patriotism and charity does not lie in the commodities (t-shirts, sweets, joota-chappals, etc.) rather it is a by-product of one’s high morals and virtues. Love for one’s nation cannot be shown only by wearing t-shirts of tricolour; rather it is shown in our actions inspired by high thinking and rationality. Believe me, that today these fake NGOs and groups are able to fool us only because of our own ignorance and lack of awareness, the moment we would realize the crooked intentions of those fake groups and NGOs and also that our compassion for the motherland is not dependent on mere commodities such unfaithful organizations will sooner be exposed and shut down.
The contribution towards Army Central Welfare Fund is 100% exempted from income Tax vide clause (III HC) of Section 80-G of Income Tax Act 1961. Monetary contributions to the Army may be made through Demand Draft in favour of “Army Central Welfare Fund” payable at New Delhi and forwarded to the under mentioned address:
Director, Accounts Section
Ceremonials and Welfare Directorate
Adjutant Generals Branch
Room No 281-‘B’ (Accts Sec)
Integrated HQ of MoD (Army)
South Block, New Delhi – 110011
DO NOT BUY T-SHIRTS , JOOTA-CHAPPALS IN THE NAME OF NATION, SOLDIERS AND INDIAN ARMED FORCES
If we love our country, we have many other dignified ways to show our gratitude and regards towards it instead of getting involved in foolish acts or supporting those fake groups ( Made just to raise funds in the name of social service) and NGOs. We should support any NGO or a group and invest our precious time and money into it only when we are assured of their candid intentions and actions. What so brilliant they are doing by collecting huge funds to organize rides and tours for the salutation of the Indian Army & Soldiers? They are just and just growing their own business and profit-making activities, they very well know how to exploit people’s pure emotions , patriotic feeling and to use them for own benefits.
If they, genuinely want to do something good for the nation as well as for the soldiers then why do not they donate that huge amount of money to the families of the Martyrs, Martyrs Fund or even donate it to the Indian Army Welfare Fund and National Defence Fund? The answer is just simple and clear that their intentions are not sincere and honest avoiding the submission of Taxes itself proves that they are also bluffing the government and curbing the flow of national income. And this is the high point where such fake organizations and groups must be unmasked and the citizens must get aware of their hoaxes. We cannot continue to contribute our time, energy and money to such ‘Parasites’ who are slowly and gradually grinding and gulping the prosperity of our country.
It is the time to see the truth with wide open eyes and to become an active member/citizen of the nation who understands his/her responsibility of participating in the nation building process. I will again plea to the people to invest their hard-earned money in fruitful mediums that are beneficial for them, as well as for the nation. Promoting and supporting greedy motives of some organizations will only hinder the growth and will only be considered as a mere wastage of your own time and money. So, now onwards decide to say No to such Parasites and their sales tactics, instead of purchasing Joota, Chappals, T-shirts in the name of the country (which do not have any utility for the country’s growth) invest your money in prolific National Saving Certificates which not only raise your income but also the income of the country. Youth, youngsters and elders, everyone should be aware about the importance of NSCs and should believe in the same. Especially the young generation should be motivated to invest in these saving schemes parents are themselves unaware of the fact that they can immensely encourage their children to become a constructive member in the process of nation building. Thus, the following part of the article would focus upon the relevance of right parenting in the process of country’s development.
THE RIGHT APPROACH: PARENTING & NATION BUILDING
Parenthood is a blessing for everyone that is why the parents always wish to give their best while parenting the children, being a parent they try to make wise choices that are helpful for a better growth and development of their child and they also do not wish to leave any imperfection since their prime objective is to give the child a good, healthy and a safe upbringing. These days, parents are becoming active and alert, and they wish to inculcate every good habit, high morale and virtues in their child, when it comes to raise the children the parents always intend to deliver the best knowledge, information, values and guidance to them. Earlier, parenting was considered to be only limited to the fulfilment of the physical necessities of the children but now parents are becoming aware that parenting is not only about taking care of the physical aspect of the children but it also means to take care of every other factor (psychological, social, emotional) that facilitates a holistic growth for them. There are many ways through which good habits and virtues can be built in into a child’s consciousness but moreover, a child learns faster by seeing his parent’s actions, he/she will automatically imitate what the parents are doing that is why parents should always be very careful in projecting the actions in front of their children. A child fully understands whatever takes place insides his home and how does his parents behave with others, thus, parenting is a profound set of attitudes, actions, behaviour, choices of the parents that they themselves follow and directly allow to cultivate in their child.
Now, we may wonder that how the process of parenting is significant for or is related to the process of nation-building. As we already discussed and acknowledged that parenting is not just a process of bearing up a child, it is rather a profound process of making/creating a personality. Parents give their child an Identity and also a Personality (a set of specific behaviour and attitudes) who is created inside the home but has to interact in the outside world that is why we believe in developing a good and a virtuous personality of the child. The more empowered personality the child would have the more powerful his/her interactions and actions in the outside world would be. And not only this, but an empowered personality is considered to be influential, strong, sensible and confident. Such personalities are able to face any kind of upheavals and above all their actions are goal oriented and constructive.
Today, we talk about country’s development and growth but who will actually make it happen? It is the young blood/youth/young generation of the country that will make this happen. Only smart, intelligent, confident, aware, educated, and empowered people would be able to support and contribute in the process of nation building. And creating such strong personalities should be the prime motive of Parenting. It is a very big responsibility for the parents to bring up their children in such a way that in future they become a responsible and a sensible member and citizen of the country. Well, I have elaborated this very idea in much detail, but now I would like to come back to the focus of this article and or we can say that one of the significant factors that we discussed in the above paragraph. While parenting parents try to inculcate good habits and values in their children thus, few of the habits that the parents must impart in their children are; the habit of introspection, habit of charity and habit of saving the money.
I would like to draw your attention towards the aforesaid Qualities or Habits that should be imparted in the children during parenting. In my opinion these three qualities work like an operational agent in the development of the child’s mind and conscience. Although, these three are not the only qualities which should the parents work upon but these are the most essential qualities required for an enlightened upbringing of the children. Now, let us discuss these three of the habits separately so that their significance in the process of nation building can be comprehended well.
Habit of Introspection: Introspection follows the process of thinking that helps a person to become thoughtful. A thoughtful person is able to perceive the hidden factors of any scenario, is able to quest for the truth and very well knows and understands what ideas, decisions and actions are most desired and appropriate. So, we are talking about cultivating this habit of thoughtfulness in the young children so that they may gain the power of thinking the right, perceiving the right and finally doing the right. If the children are thoughtful, they would be able to introspect and contemplate the things in the favour of the country and for themselves as well. Thoughtfulness is inspired by wisdom, good motives, positive attitude, sincerity and kindness thus, the thoughtful children can become highly constructive in the way of development. Our thoughts have the power to create our future, and they are interconnected with our actions hence, it is required on the part of the parents to keep a check that the children create qualitative and useful thoughts and their time is not wasted in wasteful thoughts and activities. Encouraging the children to explore, analyse, and apprehend the things; is also a part of this process.
Swami Vivekananda once said that
“We are what our thoughts have made us, so take care about what you think. Words are secondary. Thoughts live; they travel far.”
Good and positive thoughts would keep encouraging the children to advance good actions, they would become sensitive and responsible for enhancing the quality of their lives and only such children will be able to contribute their wisdom, innovative ideas and good motives for conceiving growth and prosperity in the nation. Such children have the ability to become great leaders, managers and masters which in a way beneficial for the country’s growth only.
Habit of Charity : What I understand from Charity is that it is an action that is inspired by our pure and good intentions of helping and supporting someone with the help of certain means, those means could be anything, for instance, if someone is truly needy and deprived of something then helping that person by facilitating the essential means like money, food, shelter, clothes, physical help etc., is what may understand by the action of charity. So, teach your children to do charity whenever it is possible for them, what is important here to make them understand that helping the people and realizing someone’s adversity is much needed. One is able to help others only when his/her heart is tender and understands the pain of others. Having empathy for the needy and deprived people is an indication of a genuine mind and soul; such people will always do worthy things for the welfare of the people at large. We have seen many great personalities who had won the numerous of heart because of their benevolent and altruistic attitude and actions. Thus, parents should give such a parenting to their children that nurture their hearts with empathy, kindness and compassion for the needy people.
The virtues of donations are great because it helps the needy and at the same time it gives an opportunity to the donor to give the surplus to the people in need. It helps the needy to sustain himself. — Sama veda
Habit of Saving Money : Now, this is a point with which I began this very article. Saving money is indeed a fruitful habit, may it a small or huge savings, they will always be helpful at our odd times. It looks quite impressive when small kids tend to save their pocket money not for their own sake but for helping someone or for any good cause. Parents should educate their children about the benefits of saving the money, once the child imbibes this habit he/she would automatically continue it in the future. But it is also important to teach the children about utilizing their savings in a right manner, and here I would again say that saving money by purchasing National Saving Certificates is one of the safest and best mediums for the children through which they will not only make savings but they will also learn to help in the process of nation building. As we have already discussed in detail that how does purchasing the NSCs help in nation building process so now I am focussing upon that how the children should be encouraged to buy the NSCs. It is clear that whosoever purchases a NSC directly invests in the nation building process and there is no such fixed amount of money to be invested in it thus, this flexibility allows the children, youngsters and especially the youth to invest any amount of money into the same according to their suitability. Parents should encourage the children to purchase NSCs if not usually then at least on special occasions such as birthdays, anniversary, festival or any other auspicious occasion. This will be counted in their good actions which they pursue on memorable days of their lives. In this whole scenario what is more important is not the habit of saving the money but the good spirit of saving and investing the money in a right medium, directly helping the country in its developmental task and also getting a monetary reward at a mature stage.
The person who is always involved in good deeds experiences incessant divine happiness. — RigVeda
Today every youngster receives pocket money from their parents and it is actually not that tough to spare an amount of Rs.100-500 out of it for purchasing a National Saving Certificate. In fact the working youth can afford to invest a big amount of money to purchase NSCs and remember there is no obligation in this; because what they are investing they will get it back with an increased interest and returns only. It is purely a safe kind of way to save the money and also a way that may raise financial security within the children. Youngster can invest the amount received against the maturity of the NSC, for the purpose of study, purchasing any gadget, gifts for others or may be for some charity purpose (all depends upon the choice of the child). If children understand the utility and the benefits of investing the money in NSCs then three most important things they will be able to know:
- They are making the righteous use of their money and choosing a worthy medium of investment.
- They are investing their money for making their future bright.
- They are directly contributing in the process of nation building thus they should be proud of themselves that they are helping their country to grow and develop.
Now, while summing up the whole thing I would like to mention here that besides, supporting the idea of investing the money in National Saving Certificates, I have also tried to draw the attention of the readers to the unproductive activities taking place in the name Patriotism and Nationalism in our country. The pointless activities which hinder the improvement of the nation must be exposed to the general people. The idea of nation building can never be realized without the involvement of the young blood of the country that is why we have discussed in detail about giving a functional parenting to the children. Through this medium I would again request all the people out there to understand that we all should stand together when it comes to make our country prosperous, developed and advanced. Being a citizen and a Proud Indian we all must fulfil our duties towards our motherland and should keep on contributing our time, energy, money and intelligence in the process of nation building. Youth should enthusiastically participate in this process, because they have the power, intelligence, confidence and the ability to bring wonders and to do miracles. Nation building is not a task of one two days, it requires sincere efforts and good spirit of the people and moreover a good investment from the people, if we aspire to see a developed India we will have to act for it.
Note : Do visit Official websites to confirm current Rate of Interest , terms and conditions before choosing Investment plan.