Nirmala Sitharaman’s good news for middle-class people: The central government has taken a key decision. The Modi government has now reversed its decision to cut interest rates on small savings schemes. Revealed that the decision to reduce interest rates was being withdrawn.
There will be no change in interest rates on small savings schemes. The Finance Ministry has said that the interest rates on small savings schemes will be the same as in the previous quarter. Union Finance Minister Nirmala Sitharaman made the announcement on Twitter.
Nirmala Sitharaman said small savings schemes were withdrawing orders reducing interest rates. Normally, the decision to cut interest rates should take effect from today. If this were the case, interest rates would fall by 110 basis points.
But now Union Finance Minister Nirmala Sitharaman’s good news came for middle-class people and she has made it clear that there will be no reduction in interest rates. Revealed that old interest rates will continue as well.
This will have no effect on those who have invested in Public Provident Fund (PPF), Sukanya Samriddhi Yojana SSY, Post Office Saving Schemes.