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  • Category: Miscellaneous

    Why the interest rates of small savings were slashed down and rolled back suddenly?

    In Today's newspapers we found the interest rates on small savings slashed down drastically and even on senior citizens savings. But by afternoon another announcement came from finance Minister that the government by oversight given the announcement and there is no change in interest rates on small savings. Why such a great amusement happened from a responsible government on a very serious public matter? Is it due to elections, the government has withdrawn such an announcement that severely affect their election prospect? It seems the decision was made early and have withdrawn the announcement due to the reason of elections. After the elections they may impose the cut down of interest on small savings. At present either Central or State level government's are not giving pensions and the employees have survive on what they procure during the employment. The private job holders very meager resources with them and suffer severely if interest rates are continuously slashed down for the welfare of government.
  • #726963
    In my opinion, it is due to elections only. They will certainly implement it after elections. Probably they wanted to announce after elections but by mistake it was announced and withdrawn immediately.
    " Be Good and Do Good "

  • #726970
    This appears to be a hasty decision or oversight by some official and as soon as it came in the notice of the authorities it was rolled back. These types of things happen some time but if just after election it happens then it would be in bad taste.
    Thoughts exchanged is knowledge gained.

  • #726981
    I don't think this announcement will affect the government in elections- neither positive nor nevative. Some people are saying as the author has opined that this decision was taken back because elections are going on in several states and after these elections, they will impose it. Let us see what happens after the elections. The rub is that we can do nothing We have to abide by the policies of the government.

  • #727022
    Once the election is over, the govt. will move ahead with its decision to cut interest rates again.The petrol price was reduced by 22 paise and diesel by 24 paise on Wednesday. But the prices will be raised after the election. The price of cooking gas has been reduced by Rs 10 per cylinder. After an increase of Rs 125 in two months, it was reduced by Rs 10 now.
    This is the same what the Modi government is doing in every election.

    Lighted to Lighten


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