A non-reform

The reduction of interest rates on small savings schemes is being touted as a step towards modernising the government’s borrowing pattern, prompting it to borrow money at lower interest rates from the market to fund its fiscal deficit. It’s also being said that banks will finally be able to disburse loans at lower rates of interest. But this comes at a cost to the average Indian who believes in conservative investments in small savings. Why are this government’s reforms always at cross purposes with the needs of the common man

Arun Roy Via email