Question
Which of the following statement is/are incorrect regarding the āNational Small Saving Fundā? The National Small Savings Fund (NSS
- F has recently been set up in the public account of India. The Fund is administered by theĀ Government of India, Ministry of Finance (Department of Economic Affairs) under National Small Savings Fund (Custody and Investment) Rules, 2019. The money in the fund isĀ used by the central governmentĀ to finance itsĀ fiscal deficit.
Solution
National Small Savings Fund (NSSF) in theĀ Public Account of India was established in 1999. The Fund is administered by theĀ Government of India, Ministry of Finance (Department of Economic Affairs) under National Small Savings Fund (Custody and Investment) Rules, 2001,Ā framed by the President underĀ Article 283(1) of the Constitution.
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