Rate reversal: West Bengal contributes most to National Small Saving Fund

In 2017-18, West Bengal accounted for 15 per cent of the total contributions made to the NSSF; its share increased from 12.4 per cent in 2007-08

A day after the finance ministry announced a reduction in rates on small savings schemes as part of its periodic review, Finance Minister Nirmala Sitharaman was quick to announce a rollback of the move on Thursday morning, calling it an “oversight”.

In a tweet, the FM said: “Interest rates of small savings schemes of GoI shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021. Orders issued by oversight shall be withdrawn.”

If the ministry had gone ahead with its plan to lower the rates on small