The Hindu : National : Demand for EPF rate hike will be considered: Manmohan

Online edition of India's National Newspaper
Friday, Dec 17, 2004

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National

Demand for EPF rate hike will be considered: Manmohan

By Our Staff Correspondent

NEW DELHI, DEC. 16. The Prime Minister, Manmohan Singh, said today that the Government would consider the demand to increase the Employees Provident Fund interest rate. This assurance was given to a delegation of the All-India Trade Union Congress, led by Gurudas Dasgupta, that met him here this afternoon.

Talking to reporters on the sideline of a function to mark the launch of the Doordarshan-DTH platform later in the evening, Dr. Singh clarified that contrary to the claim made by Mr. Dasgupta on his having agreed to increase the interest from 8.5 per cent to 9.5 per cent, he said he had not specified the quantum of increase.

"We cannot make any such commitment since Parliament is in session. We have to take the House into confidence before making any commitment," he said.

Mr. Dasgupta had earlier claimed that his understanding of the meeting with the Prime Minister was that he (Dr. Singh) had agreed to hike the interest rate by one percentage point.

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