Modi government confessed its mistake, took back the decision to reduce the interest rate, the Finance Minister said – By mistake …


new Delhi. The central government had ordered a cut in interest rates on small savings. But now the Modi government has withdrawn the decision to cut the interest rate on small savings schemes. Within 24 hours the Finance Ministry withdrew its order. Union Finance Minister Nirmala Sitharaman has given this information by tweeting. The Finance Minister has said that the order was mistaken.

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According to the information, Finance Minister Nirmala Sitharaman said that the interest rate on the small savings schemes of the Government of India will remain the same as it was in the last quarter of the financial year 2020-2021. That is, the interest rate of March 2021 will be available even further. Orders issued will be withdrawn.

It is noteworthy that there was news late night that the interest rate on small savings schemes has been reduced for the first quarter of the financial year 2021-22. On Wednesday, it was said that the interest rate on small schemes has been cut by 1.10%. At the same time, the interest rate on PPF was reduced from 7.1 per cent to 6.4 per cent per annum. The new rates were to come into force from today on April 1, 2021.

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