THIRUVANANTHAPURAM: Finance Minister Thomas Isaac has said that the interest rate on treasury deposits will be reduced from 8.5 per cent to 8 per cent. Many people had deposited money in treasury savings accounts as bank interest rates fell. As interest rates fall, so do deposits.

The minister said the pay reform would be implemented as soon as the 11th pay commission report is received. The government wants the COVID vaccine to be given free to all. It is ready to borrow up to Rs 2000 crore in this regard.