The government has drastically reduced the interest rates of all Saving Schemes including , PPF-Sukanya

As you know, the Ministry of Finance offers various schemes related to small savings accounts. Such as PPF, National Pension System, Kisan Vikas Patra, Sukanya Samriddhi and more.

Let us tell you that on Tuesday, after deducting 75 basis points in some small saving schemes, the interest rate on these schemes has been fixed at 7.6 percent. The National Savings Certificate Scheme also reduced the interest rate from 7.9% to 6.8%. The tax rate scheme of all the people has been given a big cut in the interest rate also available on PPF accounts, which has been reduced from 7.9% per annum to 7.1%.

   

Which will be implemented from April 1. The Department of Economic Affairs says that the interest rate will be reduced by everyone, but the difference will be on a small plan. At this time, the Finance Ministry offers different types of small schemes. Which includes PPF, National Pension System, Kisan Vikas Patra, Sukanya Samriddhi and more. The interest rate of these schemes is revised every quarter, including the Senior Citizens Savings Scheme (SCSS).

The government's move is a step towards reducing the fiscal deficit. CORONA VIRUS (COVID-19) which is also being called as Chinese or Wuhan virus, due to this, the government has put a lockdown in the country, due to which our country can deal with financial and economic problems in the coming times.