MP asks govt to make public details of PF investments

NEW DELHI: A Congress member in the Lok Sabha today asked the government to come out with the details regarding provident fund being invested in the stock markets.

The government should "give the details on the provident fund which it is going to investments in stock market or any other investment area," Adhir Ranjan Chowdhury said.

He was participating in a discussion on resolution on 'Steps to ensure welfare of Employees Provident Fund pensioners'.

Concerns are being raised on investment of provident fund (PF) "which may affect the provident fund situation", he said, adding "thus the government should come clear on it."

N K Premachandran (RSP) moved the resolution which sought restoring the benefits of commutation and return of capital to the Employees Provident Fund pensioners.

The resolution also seeks to provide pension to beneficiaries of Employees Provident Fund pension on the basis of average salary of 12 months immediately preceding retirement.

Participating in the discussion, Nishikant Dubey (BJP) said naxal attacks have reduced in Jharkhand and cases of terrorism have shown a decline post-demonetisation.

The lawmaker from Jharkhand, however, did not give figures to back him claim in reduction of cases of Naxalism cases in his state and neighbouring state of West Bengal.

Dubey also demanded a comprehensive Universal Pension scheme.

He said senior citizens will constitute 12.3 per cent in 2030 and will form 18.3 per cent of the total population.

This section of the population would require a pension scheme as introduced by several countries like the US, Germany and Brazil, he said.

Attacking the Congress, he said it was the NDA government who brought a pension scheme for senior citizens, but the UPA dispensation sat on it for eight years.

He also demanded a reduction in direct tax.