Starting April, govt should not fool itself on small savings rate
Small savings account for a much higher proportion as a source of funding for the government
Receipts from small savings securities funded as much as 26% of the fiscal deficit in FY21
This was a circular the government could have slept over. The finance ministry issued a circular announcing steep interest rate cuts on small savings schemes on Wednesday night. The next morning, finance minister Nirmala Sitharaman tweeted that the circular was issued by “oversight" and that interest rates stand unchanged.
Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!Let’s get started