Government Announces Interest Rates for Various Small Savings Schemes; Rates to Come Into Force with Effect from 01.04.2015
It was decided by the Government of India that interest rates on Small savings Schemes will be linked to yields on government securities of comparable maturity. In pursuance of that decision, the Government has decided to revise the rates applicable on various small savings schemes as given in the table below.
Rate of interest
Rate of Interest
1 Year Time Deposit
2 Year Time Deposit
3 Year Time Deposit
5 Year Time Deposit
5 Year Recurring Deposit
5 Year SCSS
5 Year MIS
5 Year NSC
10 Year NSC
Kisan Vikas Patra
Sukanya Samriddhi Account Scheme
The above rates will be effective from tomorrow i.e. 1.4.2015.
Thus the rates on many of the small savings scheme have undergone an upwards revision vis-à-vis 2014-15.
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INTENSIFY THE STRUGGLES TO ACHIEVE
After Modi Government coming in power, every Central Government employee including postal employees were expecting that “Achchhe Din” (Good Days) will come to them as assured by Shri Narendra Modi and other senior leaders of BJP during election campaign. They were expecting 50% or 100% DA merger with Basic Pay , 25% Interim Relief, enhancement of limit of Income Tax exemption upto 5 lacs, filling up of all vacant posts so that the existing over burdened employees may get some relief and some other facilities. But now every employee appears to be disappointed and realizing that he has been cheated. Within these ten months no action of Central Govt. appears to be in the interest of working class.
Some employees were very much hopeful about the budget and they were expecting that the income tax limit will be enhanced. But after budget they are also more disappointed as no relief has been granted in this regard. From the first day of this Govt. every decision whether it is Labour Laws amendment, FDI in Railways and Defence, disinvestment of public sector , grant of 6000 Crore Rupees loan to Adani to purchase coal mine in Australia , amendment in Land Acquisition act have been taken for the interests of Corporate Sector. A promise of deposit of Rs. 15 lakh in the account of each citizen after bringing back black money from foreign banks has also been declared by BJP President as Election stunt (Chunabi Jumla) so now every citizen is disappointed . On the other hand corporate tax has been reduced from 30% to 25% . Concession about 5.9 lakh crore has been given to corporates while the service tax has been increased from 12.36% to 14% which will affect common man.
Against all these so called neoliberal economic reforms and anti people, anti farmer, anti working class policies, all sectors are on agitational path.100%FDI has been declared in Railways and 41 Govt. Ordinance factories have been declared for disinvestment to hand over to corporate sector. In Postal Department also Task Force Committee has recommended corporatization of various services.
Banks, Insurance, Road Transport, Coal, Construction, electricity, Port and various Scheme workers who are the worst sufferers of these neoliberal economic policy offensives are going on agitational path.
National Council JCM of all Central Government employees’ organizations has taken decision of Parliament March on 28th April-2015 in which the date of indefinite strike will be announced against these policy offensives of Central Government and to achieve genuine demands..
Postal Joint Council of action has declared series of agitational programmes which have been successfully conducted everywhere. Now decision has been taken in PJCA meeting held at NFPE office New Delhi on 24th March -2015 to intensify the agitational programmes. In this series after Parliament March by NC JCM on 28th April-2015, a grand Dharna will be organized by the All India leaders of both Federations on 29th April-2015. From 5th April to 15th April-2015 vigorous campaign will also be launched to mobilize entire rank and file to make the indefinite strike from 06th May 2015 a historic success so that the Govt, may be forced to reconsider and to take back all these neoliberal economic policies which are totally against the working class.
NFPE appeals to the entirety of Postal, RMS and GDS employees to intensify the struggles to make all the programmes grand success and to resists these policy offensives and to achieve “ACHCHHE DIN” (GOOD DAYS).