West indian people

India News | PM busy adding to people’s woes: TMC slams Modi on ETH interest rate cut

Kolkata, Jun 4 (PTI) Attacking the central government for its decision to drastically cut the interest rate on the Employees Provident Fund (EPF), the Trinamool Congress on Saturday alleged that Prime Minister Narendra Modi was dealing in adding to people’s misfortunes.

The new interest rate on ETH is the lowest in 40 years, the TMC tweeted with the hashtag #8YearsOfShame.

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Modi has been prime minister for eight years.

The Center had on Friday approved an 8.1% interest rate on EPF deposits for 2021-22 – a four-decade low – for around five crore subscribers to the retirement fund body the Organization of the Fund. employee pension plan (EPFO).

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The TMC in a tweet said, “Have you ever wondered how Mr. Busy Prime Minister Shri Shri @narendramodi ji is keeping busy? Adding to people’s misfortunes, one after another!”

The party also shared an annual list of EPF interest rates from 2014-15 when a BJP-led coalition came to power in the Centre.

In a separate tweet, senior TMC official and West Bengal Minister of State for Finance, Chandrima Bhattacharya claimed that the Modi government is biting into people’s hard-earned savings.

“@narendramodi ji is looting people and biting into their hard-earned savings. From inept policies to bad governance, we’ve seen it all in these eight years. It’s extremely cruel,” she said on Twitter.

Earlier in March, the EPFO ​​had decided to reduce interest on deposits to the provident fund for 2021-2022 to 8.1% against 8.5% expected in 2020-21. The Center approved it on Friday.

The EPF interest rate of 8.1% is the lowest since 1977-1978, when it was 8%.

(This is an unedited and auto-generated story from syndicated newsfeed, LatestLY staff may not have edited or edited the body of the content)

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