PM busy including to woes of individuals: TMC slams Narendra Modi over EPF rate of interest slash

By PTI

KOLKATA: Attacking the central authorities for its resolution to slash the rate of interest on staff’ provident fund (EPF), the Trinamool Congress on Saturday alleged that Prime Minister Narendra Modi retains himself busy by including to the woes of individuals.

The new rate of interest on EPF is the bottom in 40 years, the TMC tweeted with the hashtag #8YearsOfShame.

Modi is the prime minister for eight years.

The Centre had on Friday authorised an 8.1 per cent price of curiosity on EPF deposits for 2021-22 an over four-decade low for about 5 crore subscribers of retirement fund physique the Employees’ Provident Fund Organisation (EPFO).

The TMC in a tweet stated: “Ever puzzled how Mr.Busy Prime Minister Shri Shri @narendramodi ji retains himself busy? By including to the woes of individuals, one after one other! The social gathering additionally shared a year-wise checklist of EPF rates of interest from 2014-15 when a BJP-led coalition got here to energy on the Centre.

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

“@narendramodi ji is looting people and also biting into their hard earned savings. From inept policies to poor governance, we have seen it all in these eight years. This is extremely cruel,” she stated within the Twitter publish.

Earlier in March, the EPFO had determined to decrease the curiosity on provident fund deposits for 2021-22 to eight.1 per cent from 8.5 per cent supplied in 2020-21.

The Centre authorised it on Friday.

The 8.1 per cent EPF price of curiosity is the bottom since 1977-78 when it stood at 8 per cent.