Modi Government can give a new 'gift' to the middle class before Lok Sabha elections!
Saturday - February 23, 2019 12:50 pm ,
Category : WTN SPECIAL
Modi Government's 'eyes' on the huge middle class before the Lok Sabha elections
The interest rate in other small savings schemes including Sukanya Samriddhi may increase by 0.10%
FEB 23 (WTN) - As you know, the Modi government has increased the rate of interest on EPF by 0.10 per cent keeping in view the Lok Sabha elections. That is, the new interest rate for EPF will now be 8.65 per cent for the year 2018-19. After increasing the interest rate on EPF, it is expected that the rates of small savings schemes, which are running in banks and post offices, will also increase.
If we talk about small savings schemes, so for your information let you know that at present Sukanya Samriddhi is getting interest at 8.5 per cent now. The interest rate on deposits for one year and three years at the post office is 7 per cent. At the same time, the interest rate on the post office deposit for 5 years is 7.8 per cent. The interest rate for RD i.e. Recurring Deposits for five years is 7.8 per cent. At the same time, the interest rate on PPF is 8 per cent.
At the same time, the rate of interest on the 5-year National Savings Certificate is 8%, and then the interest rate is at the rate of 7.7% on the Kisan Vikas Patra. Only the interest rate on 5 years of Senior Citizen Savings Scheme is high compared to EPF and its rate of interest id 8.7 per cent.
Experts believe that due to defeat in the three states assembly elections and the threat of defeat of the NDA in the Lok Sabha elections after the BSP-SP alliance in UP, the Modi government can increase interest rates on small savings schemes to woo the country's vast middle class. But it is being said that this increase will not be more than 0.10 per cent as the Government's motto behind this may be the increasing in the rate of Government Bonds.
According to the information, the government can announce new interest rates for small savings schemes by March 31. Keeping in view the Lok Sabha elections, after increasing the interest rates of EPF, it is now being said that interest rates for post office deposits, Sukanya Samriddhi and other small savings schemes, including PPF, may increase. Now it is important to observe that which types of steps are going to be taken by the Modi Government to woo the masses so that they can get its benefits in the elections.
FEB 23 (WTN) - As you know, the Modi government has increased the rate of interest on EPF by 0.10 per cent keeping in view the Lok Sabha elections. That is, the new interest rate for EPF will now be 8.65 per cent for the year 2018-19. After increasing the interest rate on EPF, it is expected that the rates of small savings schemes, which are running in banks and post offices, will also increase.
If we talk about small savings schemes, so for your information let you know that at present Sukanya Samriddhi is getting interest at 8.5 per cent now. The interest rate on deposits for one year and three years at the post office is 7 per cent. At the same time, the interest rate on the post office deposit for 5 years is 7.8 per cent. The interest rate for RD i.e. Recurring Deposits for five years is 7.8 per cent. At the same time, the interest rate on PPF is 8 per cent.
At the same time, the rate of interest on the 5-year National Savings Certificate is 8%, and then the interest rate is at the rate of 7.7% on the Kisan Vikas Patra. Only the interest rate on 5 years of Senior Citizen Savings Scheme is high compared to EPF and its rate of interest id 8.7 per cent.
Experts believe that due to defeat in the three states assembly elections and the threat of defeat of the NDA in the Lok Sabha elections after the BSP-SP alliance in UP, the Modi government can increase interest rates on small savings schemes to woo the country's vast middle class. But it is being said that this increase will not be more than 0.10 per cent as the Government's motto behind this may be the increasing in the rate of Government Bonds.
According to the information, the government can announce new interest rates for small savings schemes by March 31. Keeping in view the Lok Sabha elections, after increasing the interest rates of EPF, it is now being said that interest rates for post office deposits, Sukanya Samriddhi and other small savings schemes, including PPF, may increase. Now it is important to observe that which types of steps are going to be taken by the Modi Government to woo the masses so that they can get its benefits in the elections.
