Politics in last fortnight led to EPF decision: BJP

Globalization means level playing field for all players. Then Why govt does not allow PSU AMC to get share of EPF fund management?

Politics in last fortnight led to EPF decision: BJP New Delhi, Jul 30 (PTI) Joining the Left parties in the criticism of the EPFO board decision, the BJP today said that the 'politics' in the last fortnight at the Centre is responsible for the inclusion of Anil Ambani-led Reliance Capital as one of the managers of Employees Provident Fund. "The politics of the last 15 days is responsible for the decision. The cost of political expediency is being paid off," party spokesperson Prakash Javadekar told nonpersons here. The government must come clean on the issue and should explain the choice of private players and also explain if it is the beginning of the handing over of the hard earned money to the equity market, he added. "Why did they do all this in such a hurry. How did they select the private players. What wrong did they find in the management of the worker's money with the State Bank. The government needs to answer," Javadekar said. The monopoly of state-owned SBI in managing provident fund totalling about Rs 2.5 lakh crore had ended with government yesterday allowing three private players -- ICICI, HSBC and Reliance Capital -- piece of the cake. PTI