Wrong central policies hits small savings: Punjab minister

Chandigarh, Apr 18 (UNI) Punjab Finance Minister Manpreet Singh Badal today said, the small savings movement had suffered a decline all over the country due to the wrong policies adopted by the central government.

Mr Badal expressed his views while presiding over a meeting of the officers of the department of small savings and district treasury officers here today.

He agreed that small savings had been facing challenges due to the advanced activities of nationalised banks/institutions, schemes under mutual funds, fluctuations in stock exchange market, NRI real estate business etc.

He, however, appreciated the contribution of the department in executing various development activities in the state. The Department could manage raising loans worth Rs 3600 crore, Rs 3,400 crore and Rs 2,989 crore from the central government during the past few years, he added.

Referring to the problems being faced by the agents and investors mainly at the hands of postal department, Mr Badal said that all their grievances would be considered sympathetically and, if required, the matter would be taken up with the Postal Department and higher authorities at the central government level.

Mr Raj Khurana, Chief Parliamentary Secretary Finance also attended the meeting along with senior officers of the department.

UNI