Home INDIA Comb. Targets Finance Minister for flip-flops on interest rates on small savings...

Comb. Targets Finance Minister for flip-flops on interest rates on small savings schemes

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Former Finance Minister P.W. Chidambaram says that anything in the cut is & # 39; unintentional & # 39; Is not there; Party General Secretary Priyanka Vadra says that the decision to put it on an 'election-driven' step.

Former Finance Minister P.W. Chidambaram said on Thursday that there was nothing "unintentional" about the announcement of cutting interest rates on small savings instruments, while Congress General Secretary Priyanka Gandhi Vadra called Decided to stare at it As an "election-driven" trick.

Advancing the attack, the party's chief spokesperson Randeep Surjewala said that Finance Minister Nirmala Sitharaman has no "moral right" to continue her position if the decision affecting millions can be taken by "oversight" .

"Really @nsitharaman ns oversight & # 39; obstructed & # 39; driven & # 39; in issuing order to raise interest rates on Government of India schemes or withdraw it?" Ms. Vadra was asked in response to Ms. Sitharaman's tweet in which she described the Finance Ministry's orders for revision of interest rates as "overside".

On Wednesday, the Finance Ministry notified new rates for small savings instruments that cut between 40 basis points (0.4%) and 110 basis points (1.1%) on various instruments for the April to June 2021 quarter.

'Attack on the middle class'

"Announcement of interest rates on savings instruments for the next quarter is a regular practice. About to be released on March 31 & # 39; Unintentional & # 39; There is nothing in me. The BJP government had decided to launch another attack on the middle class by reducing interest rates and making profits, ”Mr. Chidambaram said in a series of tweets.

"On being caught, FM error is posing a lame excuse for inadvertent error". When inflation was around 6% and expected to rise, the BJP government is offering interest rates from below the belt to savers and middle class below 6%, ”he said.

"Madam FM, are you running the & # 39; Circus & # 39; Or & # 39; Government & # 39 ;? The functioning of the economy can only be imagined when such a duly order of oversight affecting millions of people ' Can be issued by. In what order is the competent authority referred to? You have no moral right to continue as FM, "Mr. Surjewala tweeted.

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