M A I L B A G

A blow to salaried class

Savings are the backbone of an economy. The Finance Minister, while deciding to cut the interest rate on savings, has given no assurance to the retired persons and others for whom this interest is the only source of income that the cut in the rate of interest will not be affected by inflation in the future.

The salaried persons are bound to contribute to the Provident Fund from their salaries. This money is available to the government for a very long period. The Finance Minister has brought this long-term scheme on a par with short-term schemes in the matter of interest.

The Finance Minister has given another blow to the savers by reducing the income tax exemption limit on interest from Rs 12000 to Rs 9000. Moreover, the financial institutions are being instructed to deduct tax at source on interest earned by the savers beyond Rs 2500 per annum. A person having a saving of just Rs 25000 will come in the purview of income tax. Further, a salaried person has already paid income tax on his income and his saving is part of his income. This will mean a double tax on his income.

Mr Sinha has further decided to punish government employees by stopping the LTC facility for two years.

Our late Prime Minister, Mr Lal Bahadur Shastri, set an example by first applying to himself what he preached for others. Now our rulers live in lavish comfort and preach others to make sacrifices.

Y. P. BATRA, T. C. SAMBHI and G. S. KOHLI, Ambala City

Hard on depositors: Every year the Central Government reduces the rate of interest on small savings, PF, GPF and bank deposits, unmindful of the hardships of the depositors, who are mainly pensioners, widows, and the salaried middle class.

The present interest rates are almost the same as these were 30 years ago. The government should either bring down the prices to the level of 30 years ago or raise the interest rates proportionately.

MUNJU GUPTA and

DHIRAJ GARG, Panchkula

Gallantry awardees

I am shocked by the report that the Punjab Government has betrayed our gallantry award winners and backed out of the promise to allot land to these valiant soldiers. It is pertinent to mention that even the British Government had been giving incentives and allotting land to gallant soldiers so that they were respected in society. It is a matter of honour for the gallant men and also an inspiration to others in uniform.

Certain political bigwigs have got government lands allotted to themselves, others have grabbed shamlat lands. If five or ten acres of land is allotted to an award winner, that will not make him a millionaire, nor will it make the state a pauper.

Moreover, this decision will amount to discrimination as some persons have already been allotted land.

Capt SAWINDER SINGH (retd), Chandigarh

Shimla’s sealed road

In the democratic set-up of Himachal Pradesh, there is a road in Shimla which only a few privileged persons can use. The road called Raj Bhavan Marg, runs from Raj Bhavan to Shimla Club. Only those authorised by the Administration are able to use this road.

Tourists are mostly unaware of this restriction as the fact is not adequately advertised by the tourist offices of the state government. They come to know about it when they are challaned and asked to appear in a court on a future date when they would have gone back after their holiday in Shimla.

Even the sign reading, ‘No Entry, Sealed Road’ points in the opposite direction at the Shimla Club end of the road.

Some offices of the HP government and the Haryana Circuit House are approachable only through Raj Bhavan Marg.

D. S. Chabhal, New Delhi