Himalayan Times (1962)

Eight

Himalayan Times November 11, IS62

the willing co-operation
and consent of the people.
Indeed, the shaping and
implementation of our
Five Year Plana them-
selves are through demo,
cratie processes. In other
countries, the Savings Mo-
vement is run almost enti-
rely on the voluntary ef-
forts of the savers them-
selves. In India, however,
there is a Natioual Sa-
vings Organisation, an offi-
cial agency, with Regional
Offices spread all over the
country. Even this Organi-
sation functions with the
assistance of non official
Advisory Boards or Com
mittees consisting mostiy
of public workers.

Several savings schema
are available to the public
to choose from. Some new
features have been intro-
duced to make them more
attractive. One of them
is that money deposited
in the 10 and 15 year
Acuounts of the Cumula
tive Time Deposit Scheme
operated by Po?t Offioes
can earn a rebate o f
Income-tax like Life Tn
eurwnce premia and con-
tributions to Provident
Fund This facility is spe
cially attractive to self
employed perjyiis or em-
ployee* in undertakirigH
who cannot contribute to
any of the recognised
provident funds. It should
also appeal to those who
cannot go in for Life
Insurance or do not find
it profitable to do so.

X new 15-year C. T. D.
Aooount with a maximum
monthly deposit of Rs.
3'.'0/- and rn increase in
the limit for the 10-year
Account to Rs. 200 - a
month have been intro-
duced. Taking all the
savings schemes together,
the maximum tax free
investment which an in-
dividual could make is
Rs. 1.47 lakhs. With the
recent increase in the rate
of interest on Post Office
Savings Bank deposits,
these Banks are now on
a par with the commercial
banks in the matter of
savings deposits. 1 he Post
Office Savings Banks
spread over the vast urban
and rural areas in our
country have brought the
thrift and banking habits
to the door step of the
people. They are really
what may be called the
People's Bank.

Bofiinning from tbe
New Year 1963, a new
scheme of Prtzs Bonds
will be put on sale in tbe
mark't. This wili have
k11 the. a 1 vantages of the
present i-.eheme aud, in
addition, provide for some
*x"ra features to inaks
it more attractive.

In this way, the Small
Savings Movement has a
vital role to play not
only in the people's effort
to build up a strong
economy but also to forge
the natioual will to
freadom.

NO ONE IN SlKKIM
PRO-CHINESE

Gangtok, Nov, 5
The Maharajkamar of
Sikkim said here today
•'our people in Lachen
Lachung, in North Sikkim,
or anywhere else in Sik-
kim are not pro-Chinese
but loyal Sikkimese "

Addressing a Prese
conference, the Maharaj-
kumar said he was refer-
ring to reports in a sec-
tion of the Press in Cal-
cutta which bad stated
that China was looking
towards Sikkim with
greedy eyes and that peo-
ple of Lachen Lacbuug
were already pro-Chinese.

He said: "We feci
hurt by such baseless re-
ports. Our people are not
pro Chinese bu> loyal Sik
kimeso Mioh insinuations
against the border people
who are facinjf the Chi-
nese pressure are neither
in good taste nor do they
nerve any purpose,'* he
added.

'RINCE'S FIANCEE
SENDS CONTRIBUTION
Gangtok, Nov. 8
The American fiancee
of the Mahnrojkumar of
Sikkim, Miss Hope Cooke,
has sent $2,000 from New
York as a contribution
to the Indian National
Defence Fund. Tbe Maha-
rajkumar told journalists
that he was forwarding
this money to Mr. Nehru.