New Delhi

Finance Minister Nirmala Sitharaman announced the upcoming launch of NPS ‘Vatsalya,’ a new pension scheme allowing parents and guardians to contribute towards the financial future of minors. According to Sitharaman, the plan can be easily converted into a standard NPS account when the minor reaches adulthood.

Arunachal Pradesh CM Pema Khandu praised the initiative, calling it a significant step forward. He thanked PM Modi for his forward-thinking approach to securing the financial future of young citizens and contributing to the vision of a developed India.

Additionally, Sitharaman shared that the committee reviewing the NPS has made notable progress. She expressed her satisfaction with the National Council of the Joint Consultative Machinery for Central government employees, noting their constructive approach. Sitharaman assured that a balanced solution will be developed to address the key issues while maintaining fiscal responsibility to protect the interests of ordinary citizens.