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By Our Special Correspondent
NEW DELHI, JULY 23. The Rakesh Mohan Committee, set up to report on the administered interest rate schemes of the Government, has recommended that the Public Provident Fund (PPF) scheme should continue for some time but the National Savings Certificate (Series VIII) and the Kisan Vikas Patra schemes should be discontinued. The committee has also made some recommendations about the rate of interest on small savings schemes but the Union Finance Minister, P. Chidambaram, has already announced in his budget that existing rates of interest on small savings instruments would continue. Another recommendation that has been accepted by the Government pertain to the closure of the 6.5 per cent tax free Government of India bonds and the Deposit Scheme for Retiring Government and Public Sector Employees.
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