The government on Thursday withdrew its decision to lower the small savings rate for the April-June quarter.
“Interest rates of small savings schemes of GoI shall continue to be at the rates which existed in the last quarter of 2020-2021, i.e., rates that prevailed as of March 2021. Orders issued by oversight shall be withdrawn,” Finance Minister Nirmala Sitharaman tweeted.
Interest rates of small savings schemes of GoI shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021. Orders issued by oversight shall be withdrawn. @FinMinIndia @PIB_India
— Nirmala Sitharaman (@nsitharaman) April 1, 2021
The announcement coincided with the second phase of voting for assembly polls in West Bengal and Assam.
After the announcement, the opposition slammed the government on the timing of revoking the orders.
“Really @nsitharaman “oversight” in issuing the order to decrease interest rates on GOI schemes or election driven “hindsight” in withdrawing it?” tweeted Congress General Secretary Priyanka Gandhi Vadra.
Really @nsitharaman “oversight” in issuing the order to decrease interest rates on GOI schemes or election driven “hindsight” in withdrawing it? https://t.co/Duimt8daZu
— Priyanka Gandhi Vadra (@priyankagandhi) April 1, 2021
“Nirmala ji should also tell us from whose “Oversight” this order came out and how this order came out at a time when BJP is doing everything possible to woo people,” tweeted senior Congress leader Digvijaya Singh.
निर्मला जी यह भी हमें बता दें कि किसकी “Oversight” से यह आदेश निकले और ऐसे समय में जब भाजपा लोगों को लुभाने के लिए हर संभव प्रयास कर रही है यह आदेश कैसे निकल गया।
— digvijaya singh (@digvijaya_28) April 1, 2021
This also gave netizens an opportunity to take it to social media, leading to a flood of memes on microblogging website Twitter.
“Happy oversight day,” tweeted a user.
Happy oversight day.
— Rofl Gandhi (@RoflGandhi_) April 1, 2021
“Wish all Indians many Oversights this upcoming financial year,” wrote another.
Happy Oversight Day everyone!!
Wish all Indians many more Oversights this upcoming financial year#Oversight#BJPJumla
— Porchezhiyan (@PergrineFalcon) April 1, 2021
People also slammed the government for the decision and alleged that it was withdrawn due to the elections in West Bengal and Bihar.
“How can this be an oversight? Such policy decisions can’t be just typed and broadcasted by some Babu or PA in a jiffy without the perusal of who’s who of fin min. It looked deliberate and probably withdrawan due to outrage or the fear of impact on ongoing elections,” said a user.
How can this be an oversight? Such policy decisions can’t be just typed and broadcasted by some Babu or PA in a jiffy without the perusal of who’s who of fin min. It looked deliberate and probably withdrawan due to outrage or the fear of impact on ongoing elections.
— THE SKIN DOCTOR (@theskindoctor13) April 1, 2021
“Oversight? It’s such an important decision that affects millions of middle-class people specially senior citizens. Admit, it was a deliberate decision but withdrawn because it’d have triggered & annoyed large number of people & of course elections,” wrote another.
Oversight? It’s such an important decision that affects millions of middle class people specially senior citizens. Admit, it was a deliberate decision but withdrawn because it’d have triggered & annoyed large number of people & of course elections https://t.co/ZT5IGGszjM
— Ra_Bies 2.0 (@Ra_Bies) April 1, 2021
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