Tuesday, May 1, 2001, Chandigarh, India
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Cut in rate of interest on PPF A lot has been said about the cut in the rate of interest on PPF and other small savings. The PPF is a 15-year contract between the government and the depositor. Is it not a breach of trust if one party changes the terms of the contract arbitrarily without the consent of the other? One could understand if the change was made applicable to new subscribers, otherwise, to a layman the decision seems illegal. Someone should throw light on this aspect and clarify the position. Socially, it is a blow to senior citizens, especially the non-pensioner retirees. Instead of giving relief to the aged, the government is digging holes in their meager resources. The cut in the rate of interest on small savings will adversely affect small savings which have been adding to the funds for development and welfare works. Since saving will become unattractive, people will start spending more. HARISH KHANNA, Panchkula Municipal bodies Recently the Haryana Government changed the name of its Local Bodies Department to ‘Urban Development Department’ or ‘Nagar Vikas Vibhag’. This decision is a clear encroachment upon the autonomous character of the municipalities, and affects the spirit of the liberty granted to them by the 74th constitutional amendment. No doubt, the primary task of the municipal bodies is the development of urban areas, but we must remember that the municipal administration is the administration of local affairs by the local people themselves through their elected representatives. Thus the municipal government is fully autonomous and independent in its day-to-day working. By naming the department Urban Development Department, the municipal bodies have been made part of the state government. This affects the autonomy of the municipalities. Moreover, there already exists the Haryana Urban Development Authority (H.U.D.A) which has been constituted to ensure speedy development of the urban areas of the state. Thus the change of name has created confusion in the minds of the people. The name that the state government should adopt is ‘Department of Municipal Development’, which would safeguard the autonomous status of the municipal bodies. HEMANT KUMAR, Ambala City |
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