Widely read:
On 31st March, the Ministry of Finance announced the quarterly rates for the government small-savings scheme. Just a few hours later, the rates were restored to what they were. The rates that were announced and then withdrawn were a sharp reduction on the previous rates. For example, in the Senior Citizens Savings Scheme (SCSS), the announced rate was 6.4 per cent, down from 7.5 per cent. In PPF, it was lowered from 7.1 per cent to 6.5 per cent. In terms of the income reduction, the SCSS's drop was 14.7 per cent, while for PPF it was 10 per cent.
