The Government today re-launched Kisan Vikas Patra scheme in New Delhi to encourage the habit of small savings among the citizens. The scheme will provide facility of unlimited investment by way of purchase of certificate from post office in various denominations. It will soon be made available through designated branches of nationalized banks all across the country.

The scheme was relaunched by the finance Minister Arun Jaitley along with the Communication and IT Minister Ravi Shankar Prasad.

Speaking on the occasion, Mr Jaitley said that when economy was in good shape Indian's domestic saving stood at 36 percent but in last few years the rate of saving has gone down to 30 percent. The minister also said that increasing saving rates in the economy is the priorities of the government and need to encouraged the people for saving.

The re-launched KVP will be available to the investors in the denomination of 1000, 5,000, 10,000 and 50,000 rupees with no upper ceiling on investment. The certificates can also be issued in single or joint names and can be transferred from one person to any other person. The facility of transfer from one post office to another anywhere in India and of nomination will also be available under the scheme. The investment made in the certificate will double in 100 months.

According to Finance Ministry sources, government aims at generating a capital of Rs 2500 to 3000 crore this financial year through this scheme.