India said interest rates on small savings schemes needed to be revised to bring them in line with market rates in its annual Economic Survey released on Thursday.

"There is a need to revise the rate of interest on small savings in line with movements in market-related interest rates," said the survey, an annual report card of the economy for the financial year ending March.

The survey said the interest burden of the government "may go up once interest rates start firming up".

Total receipts from relief bonds are expected to be 65 billion rupees in 2002-03, up from 45 billion in the previous year, it added.

Share your comments

What do you think about the story? Read what others have to say: Number of User Comments: 3 Sub: Small savings scheme In India the people who are in a position to save are driven by the need to protect their living standards and save for the ... Posted by AV Rajabahadur Sub: interest rates Dear Sirs The retired people depend mainly on the interests on the deposits they have made or savings. With the continued reduction of the interest ... Posted by r p dubey Sub: Small savings interest rates Where there is no semblance of social insurance except for the priviledged few who have been in Govt.service,there is need to maintain a reasonable level ... Posted by Gautam Mookerjee