PANJIM: Union Finance Minister Nirmala Sitharaman’s comments blaming oversight for cutting interest rates on small savings schemes to an over four-decade low drew flak from the Opposition on social media. The comments came as the government rolled back its decision to lower the rates. The interest rate on Public Provident Fund was lowered from 7.1% to 6.4%, and that on National Savings Certificates from 6.8% to 5.9% for the June quarter. The order was later withdrawn.
“Interest rates of small savings schemes of GoI 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 Orders issued by oversight shall be withdrawn. @FinMinIndia,” said Sitharaman on Twitter on Thursday.
Opposition MLAs from Goa too reacted to the developments.
Leader of Opposition Digambar Kamat shared Sitharaman’s tweet and a picture of the memorandum regarding the revision of interest rates for small savings schemes.
“This is not an oversight @nsitharaman ji. This is BLINDNESS of Pro-Crony Club @BJP4India Government towards plight & sufferings of Common Man of India. Finance Minister has kept on hold the decision now after the backlash & anticipating adverse reactions in poll- bound States,” said the Margao MLA.
Independent MLA from Porvorim, Rohan Khaunte also tweeted, “While Central @BJP4India blames Oversight for #SmallSavingsFiasco, wonder what blame-game @BJP4Goa will play to justify Absolute Administrative Failure, Scams, Corruption & #Covid Mismanagement in #Goa.”
