Sitharaman putting forward lame excuse of inadvertent error : Congress ANI | Updated: Apr 01, 2021 10:33 IST
New Delhi [India], April 1 (ANI): The Congress on Thursday alleged that the central government has withdrawn its order of lowering the rate of interest on small savings schemes with elections in hindsight .
On Wednesday, the government had announced steep cuts in interest rates of small saving schemes, including the PPF and NSC. That order has now been withdrawn, finance minister Nirmala Sitharaman announced on Thursday morning, saying the order was issued by oversight .
Congress general secretary Priyanka Gandhi Vadra alluded that it was the ongoing assembly elections that prompted Sitharaman to maintain the same rate of interest on savings schemes rather than lowering it.
New Delhi [India], April 1 (ANI): The Government of India withdrew the lowered rate of interest on Small Savings Schemes announced earlier, and now the rate of interest on these will remain unchanged as the last quarter of 2020-2021, said Union Finance Minister Nirmala Sitharaman on Thursday.
After issuing an order to reduce interest rates on small savings schemes that would have delivered a blow to savers who depend on these schemes for income and social security,
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No interest cut on PPF, NSC and other small savings scheme as govt withdraws order
The rate of interest on these will now remain unchanged as the last quarter of 2020-2021, Sitharaman tweeted on Thursday. Representative image
Updated: Apr 1, 2021, 08:39 AM IST
The Centre on Thursday withdrew the order reducing the rate of interest on Small Savings Schemes. The announcement was made by Union Finance Minister Nirmala Sitharaman.
The rate of interest on these will now remain unchanged as the last quarter of 2020-2021, Sitharaman tweeted on Thursday. Interest rates of small savings schemes of government of India shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021. Orders issued by oversight shall be withdrawn, tweeted the Finance Minister.