For a change this time Prime Minister Narendra Modi interfered with the erred budget proposal taxing 60 per cent of the EPF withdrawals and stepped in to defer the proposal for the time being. This after the outrage, finance ministry indicated it is willing to re-visit the decision. The PM put his ears on the call and studied the representations made to the Government and that had sought a roll back of the tax. It is a welcome news for the salaried class, who stack their hard earned money in the welfare scheme for the future living after their retirement. Even though roll backs were allowed in the past also during UPA regime, the Congress party and other opposition parties will have a moot point to claim victory during the ongoing parliamentary budget session.
(The views expressed by the author in the article are his/her own.)