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Investing in PPF is a good starting point for your investments, but hastily allocating all your savings to it each year or prioritising it over other potentially better investment options could be detrimental in the long run.
The government has raised the rate of interest on two small savings schemes for the quarter January-March 2024 by 10-20 basis points. However, the PPF rate has been unchanged from April-June 2020.
The Union finance ministry announced that while most scheme rates remained unchanged, slight adjustments were made to the Sukanya Samriddhi Scheme and the 3-year time deposit scheme, as per the notification, , Small Savings Schemes, Sukanya Samriddhi Yojana, PPF rate, rates hike
If you aren’t already following these principles, 2024 might be a good starting point
The ministry flagged that the provident fund body had slipped into a deficit in 2021-’22 even as it had initially projected a surplus.