Sunday, January 30 2005 18:05 Hrs (IST) - World Time -

Kolkata: Union Labour Minister K Chandrasekhar Rao today (Jan 30, 2005) said the proposal for increasing the EPF interest rate was being examined by the Finance Ministry and any decision would be taken only after receiving its recommendations.

Rao, who was in the city to attend a high level meeting on revival of Dunlop India Limited, said, "The matter is now being examined by the Finance Ministry. We will make an announcement as soon as their recommendation comes in."

Incidentally, Rao's predecessor S R Ola had said that a decision on interest rate hike would be taken in the EPF committee's December, 2004 meeting.

Left parties had been pressurising the UPA (United Progressive Alliance) Government to increase the EPF interest rates.