The NPS assets under management has registered nearly 37% growth to 1.1 lakh crore as on December 31 from Rs. 80,855 crore at end March 2015. The total number of subscribers under NPS has increased 32% from 8.74 million as on March 31 , 2015 to 11.54 million in the current financial year up to February 6.
PFRDA chairman , Contractor said the high growth in NPS in the current fiscal year was aided by the additional Rs.50,000 deduction allowed over and above Rs.1.5 lakh under section 80C of the Income Tax Act. While the compound annual growth rate (CAGR) returns for the government sector under NPS since inception has been around 10%, it was 6.9% in April-December 2015 due to sharp decline in the stock market as well as fall in G-sec rates. Contractor further added that NPS would continue to generate a CAGR of over 10% in the long run.
source:The Financial express, New Delhi, February 18, 2016, page 2
