Delhiites invest over Rs 7,100 cr in small saving schemes

Small savings continued to be one of the most attractive options for Delhiites as over Rs 7,150 crore were invested in them in 2013-14 which is an increase of around Rs 310 crore compared to the preceding fiscal.
A total of Rs 4,989 crore was deposited under various savings schemes of Postal department in 2013-14 by people in Delhi followed by Rs 1,407 crore in Public Provident Fund (PPF), according to Delhi Government.
Officials in Finance Department said PPF and some schemes of Postal Department have been hot favourite as investment in them is eligible for income tax rebate.
As per official data, Rs 6,866 crore was deposited by Delhiites in small savings schemes in 2012-13 which has increased to Rs 7,178 crore in 2013-14.

The investment in National Saving Certificate (VIII and IX series) was Rs 667 crore in 2013-14 as against Rs 641 crore in the previous fiscal.
According to provisional data, the total deposits in banks in Delhi was Rs 7.52 lakh crore in 2013 out of which investments in fixed deposits was Rs 5.5 lakh crore.

The deposits in current account was Rs 84,350 crore while those in Saving account was Rs 1.14 lakh crore in 2013.
The total deposits in banks in the city in 2011 was Rs 6.35 lakh crore which rose to Rs 6.84 lakh crore in 2012.

The investment in fixed deposits in 2013 recorded over 16 per cent increase compared to the preceding year. The total fixed deposits in 2012 was Rs 4.63 lakh crore which rose to Rs 5.53 lakh crore in 2013.
The deposits in saving accounts in 2012 was Rs 1.05 lakh crore which increased to Rs 1.14 lakh crore in 2013.
Despite slowdown of the economy, Delhi has been recording impressive growth in the last few years. Delhi's gross domestic product (GDP) in 2013-14 was estimated at Rs 4.04 lakh crore.
The contribution of services sector to the GDP was Rs 3.54 lakh crore in 2013-14 while share of secondary sector was Rs 45,985 crore.