The government is gradually reducing the rates of small savings, which will result in much loss to the common people. The latest decision of the government is to cut interest rates of Public Provident Fund, Kisan Vikas Patra, Sukanya Samridhi Scheme, Senior Citizens’ Scheme etc.
The interest rate on Senior Citizens’ Scheme has been reduced from 7.7% to 7.2%.
Instead of supporting the the weaker sections of the society, these interest cuts attacks their livelihoods.
VAN Namboodiri's Blog 
1. I agree in totality.
2. Decreasing interest rates would mean decrease of social security of common man.
3. It would adversely affect not only the livelyhood but also the costly medical treatment of millions.
4. It will darken the future of millions.
5. It will affect more to undermentioned
a. Old people.
b. Retirees from private companies without pension.
c. Unemployed who depend on interest.
d. Ladies having FDs & PPF etc.
e. Employed middle class who saves money for future.
6. Many dependent on interest & undergoing costly medical treatment may lose their lives.
7. Costly education of children may get adversely affected.
8. In the event of accident or any eventuality person may run short of money.
9. When people will have less money in their pockets they will purchase less. This will adversely affect the business of retailers & factories. Factories will throw out the army of engineers & MBAs causing unemploynent.
10. Low interest loans either to corporate giants or for housing loans are being given at the cost of middle class.
11. Govt. itself will take low interest loans again at the cost of middle class.
12. Corporates, Lower class requiring low cost houses & Goverment will become rich. Middle class will become poor.