EPF rate should be 9.5 pc :BJP

New Delhi, May 28 (UNI) Opposing the move of the Government to reduce the EPF interest rate to eight per cent, the BJP today said the level should be at 9.5 per cent.

BJP Spokesman Prakash Javadekar claimed that the intention of the UPA government was to restrict the interest rate at eight per cent while the prevailing situation and the higher interest rates demanded that the EPF interest rates should be 9.5 per cent. ''If the interest levels were low during the previous NDA regime it was because the interest rates were low and the returns would be less,'' he noted.

Now the situation is different and the interest rates are soaring and there can be no justification for reducing the EPF rates, Mr Javadekar said.

UNI