small savings

Reduction in Interest On Small Savings

The Polit Bureau of the Communist Party of India (Marxist) has issued the following statement:

The Finance Minister’s retraction of the announcement made by the government yesterday of drastically  reducing interest rates on small saving schemes does not fool anybody.  It is clear that due to the ongoing Assembly elections in five states this decision has been kept on hold.  This is similar to the dictate imposed by the government on oil retailers  to not hike the prices of petroleum products till the elections are over.