You are here: Home » Current Affairs » News » National
Business Standard

Dual surgical strike: Congress demands rollback of low PF rate, ceiling on deposits

The Congress further said that both these decisions are anti-people, anti-poor, anti-farmer, anti-pensioners, anti-old people, anti-housewives and should be withdrawn.

Topics
Congress

IANS  |  New Delhi 

Congress Vice-President Rahul Gandhi. Photo: PTI
Congress Vice-President Rahul Gandhi. Photo: PTI

The on Monday termed the Narendra Modi government's decision to lower interest rate on Employee Provident Fund deposits from 8.8 per cent to 8.65 per cent and also putting a ceiling of Rs 5,000 on deposit of old notes, a "dual surgical strike" on employees and the common man and demanded a rollback of both decisions.

"We condemn the move of Modi government on both these counts and demand a rollback of the decision to reduce interest rates on EPF... it should be restored to 8.8 per cent in the interest of ordinary labourer, small and ordinary employees and the industrial work force of this country," said spokesman Randeep Singh Surjewala.

"We also demand that the promise made to the nation by the Prime Minister Narendra Modi and Finance Minister Arun Jaitley be kept and no ceiling can be imposed on deposit of old currency by the government," he added.

The further said that both these decisions are anti-people, anti-poor, anti-farmer, anti-pensioners, anti-old people, anti-housewives and should be withdrawn.

"Modi government has conducted a dual surgical strike on the employees, on the industrial work force and labour on one hand and common persons of the country on the other," said Surjewala.

"Even for depositing Rs 5,000, banks have been converted into police stations which will conduct an inquiry about source of money against the ordinary people coming to deposit their money in their accounts," he added.

--IANS

sid/vd

 

 

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, December 20 2016. 09:00 IST
RECOMMENDED FOR YOU
.