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Wednesday, Dec 11, 2002

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Jaswant mulls interest sops for elderly

Our Bureau

NEW DELHI, Dec. 10

THE Finance Minister, Mr Jaswant Singh, has said that his Ministry is considering a proposal to offer senior citizens interest rates that are higher than market rates.

"I hope to correct it very soon with the differential interest rate for pensioners, senior citizens and widowers so that this kind of decline in interest rates does not affect them," he told the Rajya Sabha on Tuesday.

However, the Minister did not give any further detail.

Mr Singh said that domestic interest rates must match falling global interest rates to make the domestic industry competitive.

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