In a recent statement in Parliament, Leader of the House, Minister Bimal Ratnayake, announced that the Finance Ministry plans to raise the interest rates on senior citizens' Fixed Deposits (FDs) in the upcoming national Budget.
Finance Ministry to Increase Interest Rates on Senior Citizens' Fixed Deposits, Says Minister Bimal Ratnayake
This decision comes in response to concerns raised by the Chief Opposition Whip, Gayantha Karunathilaka, regarding the reduction in interest rates for senior citizens' FDs.
Minister Ratnayake assured that the Finance Ministry is actively addressing the issue and will implement measures to benefit senior citizens in the forthcoming Budget.
In his remarks, Karunathilaka highlighted the National People's Power (NPP) policy statement, titled “A Rich Country, a Beautiful Life,” which advocates for an increase of at least five percent in interest rates for senior citizens’ fixed deposits compared to regular rates. The proposal aims to provide financial relief to elderly citizens who rely on fixed deposits for their income.
The government's attention to this issue marks a step towards fulfilling promises to improve financial support for senior citizens, with the Budget expected to reflect these changes.
