Can interest rates on small projects like PPF and KVS be cut from July 1? Know what the experts say

July 1: The new month from July 1 will see many big changes. There are many small savings schemes such as the Public Futures Fund (PPF), Senior Citizens Savings Scheme (SCSS), National Savings Certificate (NSC), Kisan Vikas Letter (KVS). A large number of people are investing money into all these projects. In such a situation, the question is whether or not the government will deduct the interest of these small projects from the first date of next month. There have been rumors of interest cuts on these schemes since the government issued a notification last year, but in view of the Bengal elections, the government withdrew it within hours. Tell us what the experts say –

From July 1, many rules will change, including banking, TDS, learning licensing, which will have a direct impact on your pocket

According to CARE Ratings chief economist Madan Sabnavis, interest rates on all small savings are less likely to be deducted. Madap acknowledged the rising inflation behind this. The Reserve Bank of India’s monetary policy was also concerned about rising inflation. The RBI said the inflation rate is around 5% this fiscal. However, if one sees it as a formula, then interest rates must be deducted.

According to Subnavis, last time the government did not cut interest rates on small savings due to the election. But the government has plenty of reasons to cut back on this point. However, this is in contrast to higher inflation rates. They believe that this is the right time for the government to thoroughly review the system.

In the midst of all this, people should continue to invest in all these projects. Because on the one hand all these schemes provide better returns than the bank, on the other hand, the tax can be saved.

The next installment of PM Kisan is to come, correct the mistakes, otherwise the money will not come into the account

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