Decision to cut interest rates on PPF, KVP taken to make economy more efficient: F M

ArunJaitley_PTINEW DELHI: Government today said the decision to cut the interest rates payable on small savings including PPF and Kisan Vikas Patra has been taken to make economy more efficient.
Replying to a media query in New Delhi, Finance Minister Arun Jaitley said the savings schemes are market linked and as debt has gone up, interest rates were slashed.
Two days back, government had decided to cut the interest rates on PPF scheme from 8.7 per cent to 8.1 per cent from 1st of April. The interest rate on KVP has also been cut to 7.8 per cent from 8.7 per cent.

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