Opposition calls u-turn on slashing interests of small savings 'gimmick'

Senior Trinamool Congress leader, Baishwanar Chattopadhyay told ETV Bharat that the government reduced the interest rates of small savings and later reversed it overnight only to influence the voters. He also questioned why the central government undertaking is not falling in the ambit of the Model Code of Conduct.

Kolkata: The overnight decision of the Union Finance Ministry to reverse the decision on reduction in the interest rate on small savings has been critiqued widely by Opposition parties. Leaders opined that the decision for reversal was prompted by the ongoing West Bengal Assembly elections and suggested that the government "may even reduce the interest rate after the elections in West Bengal end."

Senior Trinamool Congress leader, Baishwanar Chattopadhyay told ETV Bharat that the government reduced the interest rates of small savings and later reversed it overnight only to influence the voters. He also questioned why the central government undertaking is not falling in the ambit of the Model Code of Conduct.

“When the elections are underway and the model code of conduct has been implemented, why is the central government undertaking kept out of its ambit. A regime similar to that of Muhammad Bin Tughlaq is going on in the country," Chattopadhyay said.

Recalling the hardship faced by the people of the country after demonetisation, he said the reduction of interest rates of small savings "causes immense hardships for retired persons who are heavily dependent on small savings."

BJP is constantly influencing the decisions of the central undertaking and thus violating the model code of conduct. This cannot go on,” Chattopadhyay said.

Speaking to ETV Bharat, the CPI(M) central committee member, Robin Deb said the current BJP-led Union government only works for the interest of the corporate house.

“For the sake of the corporate houses, they first reduced the interest rates of small savings. This morning they reversed the decision keeping in mind the West Bengal elections. We are sure that the rate will be reduced again after the elections are over.," Deb said.

The Union government first increased the price of cooking gas by Rs 300 and then reduced the enhanced price by just Rs 10. All these are aimed at deceiving people. We have protested against this before and will continue to protest in the coming days as well,” he added.

However, Jaiprakash Majumdar, BJP vice- president in West Bengal, rebutted the criticism and said the decision was reversed considering the 'greater good'.

“There is no political motive to the retraction. It was done keeping the greater public interest in mind, especially that of the retired citizens. I am sure in future too the Union government will continue to work in greater pubic convenience,” he said.