Anti-people, anti-worker step: Mamata Banerjee slams Centre for slashing interest rates on EPF
India Today
West Bengal Chief Minister Mamata Banerjee on Sunday slammed the Centre for slashing interest rates on the Employees’ Provident Fund (EPF).
West Bengal Chief Minister Mamata Banerjee slammed the Centre on Sunday for lowering interest rates on the Employees' Provident Fund (EPF), calling it a "gift card" from the BJP government following the party's victory in Uttar Pradesh.
Banerjee called for united protests to oppose this "anti-people step" taken at the expense of farmers, workers, and the middle class.
“After the UP victory, the BJP government comes out with its gift card immediately! It, at once, unmasks itself by proposing to slash the interest rate on Employees’ Provident Fund deposits to a four-decade low,” Banerjee tweeted.
“This is amidst the pandemic-hit financial stresses of the middle and lower middle-class workers and employees of the country.” she wrote.
“The anti-people, anti-worker step exposes the crudely lopsided public policies of the current central establishment, which espouses interests of big capital at the expense of farmers, workers, and middle classes. The black initiative must be thwarted by united protests,” she added.
On Saturday, the interest rate on employees’ provident fund deposits was cut to a four-decade low of 8.1 per cent for 2021-22 fiscal from 8.5 per cent the previous year.
READ | Retirement fund body EPFO sets interest rate at over four-decade low of 8.1% for 2021-22
