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“Interest rates of small savings schemes shall continue to be at the rates which existed in the last quarter of 2020-2021, that is, rates that prevailed as of March 2021. Orders issued by oversight shall be withdrawn,” Nirmala Sitharaman tweeted. However, social media had a field day on the abrupt U-turn and the indiscreet choice of words in the FM’s tweet, attributing it instead to election-driven ‘hindsight’ – as the politically insensitive announcement had coincided with the Nandigram election in West Bengal. The Ministry of Finance is not known to take impromptu decisions and notifications go through a maze of clearances before they see the light of the day, point out sources. The government, these sources added, had sought the Election Commission s no-objection for the periodic review of interest rates and had got it before making the announcement in the middle of elections. The government had said a periodic review in every quarter was necessary,

Sukanya samriddhi yojanaVikas patraCongress leaderp chidambaramFormer finance ministerSenior citizens savings schemeKisan vikas patraFinance ministryNirmala sitharamanசுகன்யா சாமிரிட்தி யோஜனாவிகாஸ் பத்ராமுன்னாள் நிதி அமைச்சர்மூத்தவர் குடிமக்கள் சேமிப்பு திட்டம்கீசன் விகாஸ் பத்ராநிதி அமைச்சகம்