This Open Letter exposes the sham of the Modi regime’s policies when it comes to senior citizens, their precious savings and inflation of food items
Respected Prime Minister Shri Narendra Modi ji, Respected Finance Minister Shri Arun Jaitely ji,
First of all I extend my sincere thanks in anticipation that you will spare a few minutes of your valuable time to read and take suitable action in the matter.
I am a senior citizen and on August 1, 2012, I put Rs 40 lakhs in a nationalised Bank for 5 years. I was being paid an amount of Rs. 35,352/- every month (of course subject to income tax deductions) enabling me to lead a worry free life financially.
Now on maturity I have reinvested the amount in the same Bank and I will be paid Rs. 26,489/-; a shortfall of Rs. 8863/- i.e. 25% over the previous return, per month. Can you please advise me from where I should make good the loss or sacrifice consumption of medicines or atta (flour) or dals (lentils) or vegetables or fruit or milk or what?
Your government has done practically nothing after taking over in 2014, for senior citizens. No additional facilities have been extended but withdrawal of what existed in 2014. No commodity or provision item is available at the price of 2014.
Yes, you have been able to bring down the figures of inflation and indices but not the actual prices. Every off and on the prices of some essential daily use items go rocket high. For example, the process of dals, chana/besan, salt, onion and now, tomatoes. At such a time, we cannot even dare to look at those items.
I know you have political and the theoretical replies for these issues like interest on deposits and advances in banks depend on demand and supply. The prices of daily use items vary with the seasons, being agricultural products. But the straight upward shooting up of prices cannot be justified by these reasons that you give.
If the government wants to provide cheaper credits to the trades and industries, it should not be at the cost of depositors. Banks are sitting over volcanoes of NPAs and all good money is being diverted for bad money.
Is it not the duty of the government to enable the senior citizens to lead a respectable life who have spent their golden years in serving various organisations and finally the nation?
Government cannot look the other way. I am at a loss to understand from where this deficit of 25% will be met. Is any of the minister/MP/MLA is ready to cut his salary and allowances by this amout/percentage? If not, then why the public, and why especially senior citizens?
Perhaps it is because that, like you, we do not have the power to fix our own salaries, allowances and perks and getting everything for full year, for sessions of total of 3 months and that too attending sessions at their sweet will. When the matter of increasing your salaries comes, you pass the same just in 2 minutes in Parliament, with no discussion or deliberation, with all heads together be it from ruling or opposition benches. For this increase, you totally over look the cost to the exchequer, deficit, economics and any other factor.
The government had started a scheme for deposits of senior citizens and the rate was 9.20% but In July, 14 it was reduced to 8.3%; the amount limited to Rs 15 lakhs. This is totally unjustified.
The rate should be a minimum of 12% and the amount limit should be equal to what a person gets as terminal benefits. The government should ensure financial respectability to the senior citizens to walk with their heads straight.
I am sure you will understand the plight of the people whose good part of expenses comes from the interest of their savings of life time.
Sorry if I have offended you in any way.Thanks and Regards
D. P. Bhateja
(Received via What’s App from an ex general manager of a company, presently living in Chandigarh; Address and Mobile Nos have been withheld. The letter had been posted on the Facebook pages of the prime minister and finance minister where it no more finds a place; The language has been slightly edited for grammatical reasons)