Following the BJP’s victory in Uttar Pradesh, West Bengal Chief Minister Mamata Banerjee slammed the Centre for lowering interest rates on the Employees’ Provident Fund (EPF), calling it a ‘gift card’ from the BJP government. Banerjee called for massive protests to oppose this ‘anti-people step.’
‘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 her tweet.
The interest rate on employee provident fund deposits was cut to 8.1 percent for the 2021-22 fiscal year down from 8.5 percent the previous year.
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