Special FD rates will empower Women says PM Narendra Modi

By: WE Staff | Monday, 20 February 2023

Prime Minister Narendra Modi was present at the Economic Times Global Business Summit conference where he spoke about several measures his government has taken for the upliftment of women in society which includes special interest rates on fixed deposits.

While addressing the conference, PM replied to a suggestion made by the Vice Chairman and Managing Director of the Times Group, Mr. Samir Jain, and said that in this year's Union Budget, a very important decision has been made specifically for women. They will be provided with a guaranteed special interest rate if they make a fixed deposit in a bank for two years. He further said that it will be a commendable step.

The PM referred to the new provision made in the Budget presented on February 1 and also said to Mr. Samir, "Before I get into my point, I would refer to Shiva Bhakti and worship of Lakshmi. If there's an increase in the income tax rate (for men) then what these people in the finance department will do is unknown.

Modi also remarked that "Now it is up to your editorial staff to present this news in an appropriate context. Mr. Samir also suggested to the PM of increasing 1% of the income tax rate for men and decreasing it by 1% for women.

Modi highlighted some important schemes made by his government that will help women to empower which include the right to use house and property ownership, the opening of bank accounts, toilet construction, provision of loans, and clean cooking fuel.