<h1>New Vatsalya Pension Scheme for Minors Unveiled in 2024-25 Budget; Transitions to NPS in Adulthood for Future Security.</h1> A new pension scheme named Vatsalya has been introduced for minors as part of the Union Budget 2024-25. Proposed by the Union Minister for Finance, this contributory scheme involves contributions from parents and guardians. Upon reaching adulthood, the account can transition into a regular National Pension Scheme (NPS) account. The Finance Minister also noted significant progress by the committee reviewing the NPS and acknowledged the constructive approach of the National Council's Staff Side. The aim is to develop a solution that addresses key issues while ensuring fiscal responsibility for the benefit of citizens.