Ashok Gehlot Government has given very good news to government employees in the Corona crisis. The government has kept interest rates stable in GPF, CPF, and other savings projects. In GPF, CPF, and other savings schemes, the interest rate will be 7.1% only. According to the circular issued by the Finance Department, the government has decided not to cut interest rates. This decision of the government has given a big relief to about 12 and a half lakh government employees and pensioners.
Apart from this, on 30 April 2020, the government had cut the interest rate on deposits under GPF and CPF by 0.8%. Government employees were dealt a big blow with this cut. The government had reduced the interest rate to 7.1%. Earlier this interest rate was 7.9%. According to the circular issued by the Finance Department, the new rates will be applicable from July 1, 2020. It is going to be affected till 30 October 2020.
The rate of interest received on GPF in the state is reviewed every 3 months. Before the epidemic corona, the state and central government have already cut interest rates. This time too, there was a danger of cuts but the state government has decided to keep the interest rates stable in the interest of the employees.
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