This is with reference to reference to March 19, 2016 decision of Government to reduce interests on small saving deposits.

The Government has again targeted the middle class people who are major contributors to Direct Tax payments. The people who have invested in small saving schemes because of high returns as interest are feeling cheated. When the government can easily target few high profile willful defaulters and recover much more amount than this, why are they trying to impact THE COMMON MAN again and again.

We are already hit due to, No rollback of excise duty on petrol and diesel, corruption, an annual increment of rent and fees by exact 10% but no such definite increment in people's salary. Further people doing business are showing accelerated depreciation of assets and converting profits to losses and not paying any taxes. Why are we only the easy targets.

 

I request you all to support me and request Mr. Narendra Modi and Mr. Arun Jaitley NOT to reduce interest rates on any general public related schemes like PPF, NSC, Kissan Vikas Patra, Sukanya Smriddhi, MIP, post office deposits etc.

 

References:

http://economictimes.indiatimes.com/wealth/tax/political-public-outburst-over-centres-move-to-slash-ppf-nss-interest-rates/articleshow/51469550.cms​

http://www.newindianexpress.com/nation/Small-Savings-See-a-Big-Hit-Government-Cuts-Interest-Rate-on-PPF-KVP/2016/03/19/article3334676.ece​

http://economictimes.indiatimes.com/wealth/tax/political-public-outburst-over-centres-move-to-slash-ppf-nss-interest-rates/articleshow/51469550.cms