After repeatedly hurting the common man particularly the middle class and the retired by reducing the rate of interest on PPF systematically over the years, Govt. of India now considering raising the PPF interest rate from 8% (once it was as much as 13%), to now 8.6%. This increase too meagre considering the high rate of inflation and the need for the common man to save his money in safe avenue. Government must consider paying atleast 12% interest upto an investment of Rs.25 lakhs. Any savings exceeding this interest may be paid @ 11% for the balance. Do any one agree with this view ??
The present govt. is least bothered about the welfare of the common man and the ministers are busy in formulating new policies as to how to squeeze out the last rupee from the common man's pocket and how to stash their own ill gotten money in Swiss bank.This govt. is Loot the people,Rob the people & Bully the people.