When did tweet become government order: Chidambaram on finance official’s tweet

New Delhi, Jan 2 : Terming the government’s ways as strange, senior Congress leader P. Chidambaram on Tuesday asked “when did a tweet become a government order or notification” after the Economic Affairs Secretary tweeted that the 8 per cent Savings Bonds Scheme is being replaced by a 7.75 per cent scheme.

“Last night, 8 per cent taxable bonds were scrapped. I protested. This morning, Secretary tweeted that 7.75% bonds will be issued. No notification so far,” tweeted Chidambaram.

“When did a tweet become a government order or notification? Strange are the ways of this government,” he added.

File Photo: Senior Congress leader P. Chidambaram

Chidambaram also said: “Middle class, senior citizens, retirees waiting for official notification.”

Earlier in the day, Subhash Chandra Garg, secretary, Department of Economic Affairs, Ministry of Finance, tweeted: “8% Savings Bonds Scheme, also known as RBI Bonds Scheme, is not being closed. 8% Scheme is being replaced by 7.75% Savings Bonds Scheme.”

Chidambaram on Monday termed the Narendra Modi government’s decision to scrap the ‘8 per cent taxable bond’ as a “severe blow” to the middle class and a “deplorable act”.

The government on Monday announced that the ‘8% GOI Savings (Taxable) Bonds, 2003’ will cease for subscription with effect from the close of banking business on Tuesday, January 2.

Introduced in 2003, the ‘8% bonds’ are government of India bonds with a fixed rate of interest of 8 per cent per annum paid half yearly. They are available in physical form only and are not listed or tradable on stock exchanges. The interest received from these bonds is taxable.