Gurudas wants FM not to oppose hike in PF interest rate
New Delhi, Jan 20 (PTI) CPI leader Gurudas Dasgupta today asked Union Finance Ministry not to oppose the increase in the interest rate of Provident Fund for one year as decided recently by the Board of Provident Fund under the chairmanship of the Labour Minister.
Gupta, who is also a Lok Sabha MP, also sought Finance Minister Pranab Mukherjee’s “indulgence to ensure that the PF organisation is allowed to have its own decision implemented and the Ministry of Finance does not come in the way.”
“It appears from the newspaper reports that the Ministry of Finance is objecting to the increase,” he said.
“The point in question is that the government need not subsidise. No fund is ncecessary to come from the Ministry of Finance. The increased expenditure will be met by the PF organisation itself utilising its own accumulated funds,” he said.