The Opposition, meanwhile, has been claiming that the rollback of the rate reduction this time has to do with the ongoing elections in five states, including West Bengal.
An analysis of data shows that West Bengal
has the highest share in contributions made to the National
Small Saving Fund (NSSF).
According to the latest available data (2017-18), West Bengal
accounts for 15 per cent of the total gross NSSF
contributions. It is second only to Maharashtra, which has a 15 per cent share in terms of net contributions. Tamil Nadu, another state where Assembly polls are taking place, also has a high share of 6.6 per cent in total NSSF
This year (until January), gross contribution to the NSSF across all states was Rs 7 trillion, and net contribution was Rs 2 trillion. These had been Rs 8.5 trillion and Rs 2.8 trillion, respectively, in 2019-20, and Rs 6 trillion and Rs 1.6 trillion in 2017-18.
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