Financial Daily from THE HINDU group of publications
Thursday, May 05, 2005
Financial Daily from THE HINDU group of publications Thursday, May 05, 2005 |
|
|
|
|
|
Opinion
-
Letters EPF rates
This refers to the editorial `EPF mismatch' (Business Line, May 3). The Finance Ministry's ratification of interest rate on EPF at 9.5 per cent is arbitrary. Though it may appear to benefit the workers, a look at the facts will reveal that the returns on investment of EPF are too low thanks to the Government's policy of reduced interest rate on all saving instruments. When the Central Board of Trustees, Employees Provident Fund, who administer the Fund, have recommended a reduced rate of interest, the Finance Ministry has declared an interest of 9.5 per cent, causing a deficit of about Rs 927 crore. Pertinently, the Finance Ministry has failed to foreclose the ways and means to meet this high liability. This may eventually lead to a mess similar to one faced by the UTI a few years ago. C. Ramesh Keeramangalam (TN)
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|