This news can be a relief for investors. Maybe in the coming days, the government can approve investors to withdraw their money within a certain period by ending the 15-year lock-in period in PPF. This estimate is therefore being made.
Because SBI Research has suggested to the Central Government about this. SBI Research, in its report, said that by ending the 15-year lock-in period of PPF of the government, investors should be allowed to withdraw their money within a certain period. If the government wants, then for this, investors can consider the option of cutting the incentive.
Along with this, SBI Research also suggested that the interest rates of the Employee Provident Fund (EPF) and Public Provident Fund (PPF) be equalized and that the interest rates of EPF and PPF should be equal, so that people are encouraged to save more Can. Along with this, it has also been suggested to the Central Government that the interest received on the Government Senior Citizen Saving Scheme (SCSS) should be tax free.
SBI Research, headed by SBI Group Chief Economic Advisor Dr. Soumya Kanti Ghosh, said in its report that the interest received on SCSS should be tax free to the government and it should be taxed to some extent Should be excluded from. This report said that it should be discussed in the country that interest rates on deposits should be met on the basis of age.
The SBI Ecowrap report stated that as of February 2020, the outstanding amount under these schemes was Rs 73,725 crore. If the government rebates tax in its entirety or up to a threshold level, then it will have a nominal effect on the government’s accounts, but this will increase the investment in the retirement scheme and will make the retirement of people enjoy.