Some Indian government officials and ministers in NDA government are reportedly justifying the sinister idea of the reduction in rates of PPF (Public Provident Fund) rates., by arguing that the decreased rates would motivate public to withdraw money away from PPF (Public Provident Fund) and pump it into share market, realty sector, etc, to earn higher returns than that offered by banks.
This, it is argued, brings more capital in the market and stimulates demands for goods and services.
But, these well-intentioned policy makers have whimsically ignored the vital fact that the PPF (Public Provident Fund) is used by government and non government employees, and public in India to take care of their vital basic needs for survival after they retire, and when they no more get any salaries from any source, when they have become too old to do any tedious jobs for economic survival.
Such retired persons can never be expected to take the risk of losing in share markets, etc, their hard earned money. Anyone who doubts this truth must meet Kiran Bedi, the BJP leader, who is on record having said the similar line of thought before media several years ago that she never preferred to invest in share market.
~ डॉ स्वामी अप्रतिमानंदा जी
Dr Swaamee Aprtemaanandaa Jee
(The writer is an acclaimed independent Scientific Healer, yoga and ayurveda-Practitioner, Spiritual/Research/Political/Cosmic Scientist, Analyst, Gynaecologist, Epidemiologist, Geostrategist, economic/political-Geographer, Geohumanist, Cosmologist, innovator and citizen-Economist)
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