- A letter has been written up to the finance minister by the Shiv Sena
leader Priyanka Chaturvedi for fixing a special interest rate for the elderly
people and the retired ones, as they depend upon their fixed incomes for
running their households in these tough times of Covid crisis. - The leader hopes and mentions all the issues that the senior citizens have
to face with respect to the lowering of the interest rates, which she has
already urged for making them fixed for the people.
The Shiv Sena leader named Priyanka Chaturvedi has urged the finance minister
Nirmala Sitharaman to fix special interests rates for the senior citizens. As per the research in the finance sector we would take a note that the interest rates are extremely low, taking into note the high inflation. Moreover, as an update the fixed deposits over the years have come down from 12 to 5 percent. Similarly, for the post office also it has come down to 7 percent.
In her letter to the finance minister urging her to fix special interest rates, she specifies that lower interest rates on savings scheme have left many senior citizens with lower rate of retirement funds and thereby it puts a severe strain on their pockets, speaking in view of the current situation of covid.
In her letter she mentions that the Union budget offers the government the opportunity in order to resolve the concerns of all the senior citizens, and to provide them with all the required necessities that they demand with context to fixing up special interest rates for them.
At the present the interest rates are running at an extremely low rate and their up gradation is our foremost priority for the old aged people, as they are not in that state of running to the banks or post offices for all these stuffs keeping in mind their age bracket.
The shiv sena leader also urged her request to the finance minister in her letter to make things less difficult for the senior citizens or the retired ones and to remove the cap on post office saving scheme to allow a steady source of secure income to the elderly ones, keeping in mind the cost of living always rising on an exponential level.
She also mentioned in her letter that her urge for demanding a special interest rate is justified and should be fulfilled in order to make the lives of all the elderly people easy going and less stressful.
She also specified that the issue of low interest rates on small savings scheme, national savings scheme and the elderly or senior citizens saving scheme is generally low and it must be fixed up, as all these reports and issues have been raised by the senior citizens themselves.
Thus, it is all the more important for us to listen up to their demands,in order to make the situation less problematic for them.
Having a decent interest rate is important, as not everyone has the desired courage or the appetite for equity. The senior citizens or the retired ones are the sole people who depend upon fixed incomes to run their daily household works, so in such a situation with low interest rates it can become difficult to manage up with the things, specially in this ongoing situation of covid crisis, wherein things have to be manage out well as the situation is not what previously it was when things were under the bracket of normalised ones.
Edited by- Subbuthai Padma
Published by- Radhika. N
