Helpful Suggestions: Interest in PPF

Helpful Suggestions: Interest in PPF: "The increase in interest in Employer's Provident Fund to 9.5% will be widely welcomed by Salaried persons. But Retired Senior Citizens dese..."

Interest in PPF

The increase in interest in Employer's Provident Fund to 9.5% will be widely welcomed by Salaried persons. But Retired Senior Citizens deserve greater attention. A similar increase in Public Provident Fund for Senior citizen's is urgently called for. Retired Senior citizens are living on interest from PPF and Bank FD and Senior citizen's saving Scheme (SCSS) and Post office Monthly income scheme (MIS). As inflation has gone sky high, they are finding it extremely difficult to lead a decent life with this interest income. If a separate PPF Account with higher interest rates is created for their benefit, they will get some relief. Finance minister should therefore raise the interest in PPF, MIS and SCSS