Interest rates on small savings schemes will be reduced, Modi government will decide today? | Modi govt may cut down interest rates on small saving schemes from 1 July 2021

Interest rates on small savings schemes will be reduced, Modi government will decide today? | Modi govt may cut down interest rates on small saving schemes from 1 July 2021

Small Saving Scheme | Last year, the central government had reduced interest rates on term deposit schemes in banks. After that, if interest rates on small savings schemes fall, the concerns of ordinary investors will increase.

Interest rates on small savings schemes will be reduced, Modi government will decide today?

Small savings plan

New Delhi: In the last few days, there has been talk in the financial world that the Modi government will cut interest rates on small savings schemes. Interest rates on small savings schemes are reviewed by the central government every quarter. Even now, as the April-June quarter ends, there will be a meeting of the central government. (Modi govt may cut down interest rates on small saving schemes from 1 July 2021)

In this meeting, a big decision can be taken regarding the interest rates of National Savings Certificate (NSC), Kisan Vikas Patra (KVP), Senior Citizen Savings Scheme (SCSS) and Sukanya Samrudhi Yojana. Last year, the central government had reduced interest rates on term deposit schemes in banks. After that, if interest rates on small savings schemes fall, the concerns of ordinary investors will increase.

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What is the opinion of experts?

The Modi government is unlikely to take a decision to reduce interest rates on small savings schemes in the next quarter. Currently, inflation and fuel prices in the country are at record highs. In such a scenario, experts predict that the Modi government will not add fuel to the fire by cutting interest rates on small savings schemes.

Low interest rates on term deposits

At present, interest rates on fixed deposits are low in the country. When it comes to net returns, term deposits are currently getting negative returns. That is why the Modi government will not dare to reduce interest rates on small savings schemes, experts predict.

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(Modi govt may cut down interest rates on small saving schemes from 1 July 2021)

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