New Delhi, Sept 29 (KNN) The government today said it will review the interest rates on small savings like PPF and Post Office deposits, to bring them in line with market rates.
In a press conference that was held earlier in the day after RBI slashed the repo rates to 6.75 per cent from existing 7.25 per cent, the Chief Economic Adviser Arvind Subramanian said that the transmission of rate cut is partly by the banks and partly by the market rates coming down.

He reiterated that the Government looks forward to the transmission of these cuts to the rest of the economy and will work to facilitate this transmission, including by reviewing the framework of small savings.

He said that the Government would review the GDP rate target for the current financial year after the figures of second quarter are available. 

Smalls saving schemes include Post Office Monthly Income Scheme (MIS), Public Provident Fund (PPF), Post Office Time Deposit Scheme, Senior Citizen's Savings Scheme, Post Office Savings Account, and Sukanya Samriddhi Accounts. (KNN Bureau)