Union Budget 2014: Grow your money with kisan bonds

Finance minister Arun Jaitley has reintroduced small savings schemes like Kisan Vikas Patra (KVP) and National Savings Certificate (NSC).
KVP, a bond-like instrument in which the invested amount doubles in a given period, was discontinued by UPA II. In the last scheme, the period in which the amount doubled was eight years and seven months. For the new scheme, the interest rates are yet to be announced.
The amount invested in KVP can be deducted from the taxable income, reducing the liability of an investor. KVPs were popular in villages as they were sold at post offices, reaching far-flung areas.
Even though it is named Kisan Vikas Patra, anyone can invest in it. The reintroduction of KVP is expected to boost savings. Before it was withdrawn, KVP accounted for one-fourth of the total inflows into all post office schemes.
Though the maturity period is mentioned on the bond paper, money can be withdrawn after two-and-a-half years.
The government will also issue NSC named after the girl child to specifically cater to the requirements of education and marriage of girls.