National   

Congress defends EPFO decision

NEW DELHI: The Congress on Wednesday defended the move to allow three private companies, besides SBI, to manage funds with the Employees’ Provident Fund Organisation, saying it was in “public interest.” “The basic objective of the decision is to inject greater flexibility for higher returns. The proposal had been pending for three years,” said party spokesman Abhishek Singhvi.

Asked if it was true that the decision could not be made earlier because of opposition by the Left parties, who were then supporting the government, he said, “To an extent that is true. There is no internal governmental objection [now]. We took the decision in public interest and take responsibility for it.”

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Three more bombs defused in Surat
It was Sushma’s personal view: BJP
Serious charge: Congress
I won’t join Cabinet: Mulayam
“20,000 MW nuclear power by 2020 if deal gets through”
Hoax e-mail: cyber cafe owner remanded
EPFO move to ‘give’ workers’ money to private firms decried
Court fiat to doctors
Arunkumar Bhatt passes away
Power projects ‘commissioned’ only in name: internal study
Mumbai student tops PE-II exam
‘Policemen lack cutting edge to tackle terrorism’
Story had loose ends, says TV channel
Congress defends EPFO decision

Copyright © 2008, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu