Govt cuts interest rate on Public Provident Fund, faces flak on Twitter

New Delhi: The central government on Friday reduced interest rate on Public Provident Fund (PPF) from 8.7% to 8.1%. 

Besides, interest rates on Kisan Vikas Patra scheme have also been cut to 7.8 percent from 8.7 percent. 

The Modi-govt also slashed interest rate on Girl Child Scheme to 8.6% from 9.2%. Senior Citizen Scheme interest rates have also been reduced to to 8.6% from 9.3%.

The National Savings Scheme (NSS) will now fetch a return of 8.1 percent from 8.5 percent.

Soon after the announcement, several Twitter users hit out at the government, criticizing its decision.