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Are you running 'circus' or govt: Cong to FM on small savings scheme news

The opposition party also said Sitharaman had no moral right to continue as the finance minister

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Congress | Nirmala Sitharaman | small savings schemes

Press Trust of India  |  New Delhi 

nirmala sitharaman
Finance Minister Nirmala Sitharaman | Photo: PTI

Taking a dig at Finance Minister after she announced that the government will withdraw orders to cut interest rate on small savings schemes, the on Thursday said one can imagine the functioning of economy when such duly approved order affecting crores of people can be issued by an "oversight".

The opposition party also said Sitharaman had no moral right to continue as the finance minister.

In a jolt to savers, the Finance Ministry on Wednesday had reduced interest rate by up to 1.1 per cent across various small savings schemes, including the Savings Certificates (NSC) and Public Provident Fund (PPF).

However, Sitharaman on Thursday said the government will withdraw orders to cut interest rate on and assured to restore the rates to last quarter of the financial year ending on March 31.

"Interest rates of of GoI shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021. Orders issued by oversight shall be withdrawn," Sitharaman said in an early morning tweet.

Reacting to the development, leader Priyanka Gandhi Vadra tweeted, "Really @nsitharaman 'oversight' in issuing the order to decrease interest rates on GOI schemes or election driven 'hindsight' in withdrawing it?"

Congress' chief spokesperson Randeep Surjewala also slammed Sitharaman and asked whether a "circus" or a government was being run.

"Madam FM, Are u running a 'Circus' or a 'Govt'? One can imagine the functioning of economy when such duly approved order affecting crores of people can be issued by an 'oversight," Surjewala tweeted. "Who is the competent authority referred in order? You have no moral right to continue as FM," he said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Thu, April 01 2021. 10:12 IST
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