Arunt Jaitely revamps Kisan Vikas Patras!
Kisan Vikas Patras (KVPs) have been re-launched by the central government on Tuesday and offered to double your investment in 100 months. Union Finance Minister, Arun Jaitely, flagged of the project along with Union Telecom Minister Ravi Shankar Prasad and others.
He also informed that the newer version of Kisan Vikas Patras are set to boost savings in the economy and step up investment as it will attract rural investors as it is like a a cheque which can be en-cashed at any time and its better to buy KVS instead of keeping money at home as here one's money will grow.
It will give an annual return of 8.7% and the income generetated by it will be taxable. The PPF on the other hand gives a similar return but has a 15-year term. There is no cap on the amount to be invested on KVPs, which come in denomination of Rs 1000, 5000, 10,000 and 50,000.