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Rahul-Modi: Inflation is rising despite low interest rates, isn’t it the government’s responsibility to provide relief to the people? Question from Rahul

Rahul-Modi: Inflation is rising regardless of low rates of interest, is not it the federal government’s accountability to offer reduction to the individuals? Query from Rahul

New Delhi: The Middle has decreased PF rates of interest quickly after the outcomes of the 5 state polls got here out. The rate of interest has been decreased from 7.5 per cent to 7.1 per cent, the bottom in 4 many years. In the meantime, the federal government launched retail inflation and wholesale inflation figures on Monday. In each circumstances there may be an upward spiral. Rahul Gandhi slammed the Middle over PF rates of interest and inflation.

In a tweet, Congress MP Rahul Gandhi wrote, “Unusual residents are struggling the implications of the unsuitable insurance policies of the federal government. Rates of interest on mounted deposits are 5.1 per cent, PPF 8.1 per cent and EPF 7.1 per cent. Retail inflation stood at 7.08 % and wholesale inflation at 13.11 %. Is not it the accountability of the federal government to present a bit reduction to the individuals? Along with the statistics, Rahul in his tweets additionally confirmed indicators of declining rates of interest and rising inflation.

Because the Modi authorities got here to energy in 2014, curiosity on mounted deposits and different deposits has been decreased a number of instances. PF rates of interest have additionally been reduce. Though the PF rate of interest for Corona has been saved at 7.5 per cent for the final two years, the Modi authorities has slashed rates of interest by 0.4 per cent in 5 states. In consequence, greater than 6 crore staff are in hassle. This time Rahul raised the query.

Learn Additionally: EPFO Curiosity Charge Slashed: Kamal Modi Govt wins PF rate of interest after profitable votes in 4 states

The results of the unsuitable insurance policies of the federal government is being borne by the widespread man:

FD: 5.1% 🔻PPF: 7.1% 🔻EPF: 8.1%

Retail Inflation: 6.07% hoWholesale Inflation: 13.11%

Is not it the accountability of the federal government to offer reduction to the individuals?

– Rahul Gandhi (@RahulGandhi) March 15, 2022

The Central Authorities critiques the rates of interest relevant to EPF on an annual foundation. Since 2012-13, the rate of interest of EPF has been decreased many instances step-by-step In 2015-16 alone, the rate of interest was barely larger at 7.60 %. Since then the rate of interest has come down greater than as soon as step-by-step. Within the 2019-20 monetary 12 months, the Middle had decreased the EPF rate of interest to 7.5 %. Which was the bottom in seven years. This time the curiosity has additional decreased. In consequence, 7 center class individuals have their arms on their heads

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