100 POSTS
Divya Narayanan worked as a Journalist and Producer for ThePrint. She is a graduate from the Young India Fellowship. She did her undergraduate studies in Journalism and Mass Communication from The Lady Shri Ram College for Women where she discovered a deep interest in issues of Gender and Sexuality and how they intersect with the law. Divya is also an avid reader, amateur film maker and photographer. Find her on Twitter: @divya1539
Govt., bankers, industrialists, investors and some economist all the time claims that reducing interest rate will solve all the problems which the economy is facing today. Always news are flashed that it will reduce interest burden on industries, EMI of home loans and durable to fool others. But had all these elites have ever considered the conditions of the senior citizens who are living only on their hard earned savings of their life. Most of them from MNC and private institutions had not minted money as their counterparts in the government or its organisations. I had never seen a chart showing reduction on interest on fixed deposits also along with chart of EMI reduction. Even with the reductions of interest, there is no boast to economy. All sectors of economy, manufacturing, services, exports etc etc. are all struggling and no or nil growth in rate of employment. Each time interest rate is cut, retired person suffer a lose in the interest. What exactly are we achieving?