It is wrong for finance ministry to direct Employees Provident Fund Organisation (EPFO) to invest in stock market and stop withdrawals for education, house building or buying, marriage and sickness. The money belongs to employees and finance ministry or anyone else has no business to play with it.
The argument that equities give higher return is humbug. There is no guarantee of any return in equities. The timing of the directive, when Sensex is falling, raises questions. Finance ministry is not ready to make up if there is loss. Sometimes share prices increase, sometimes decrease. At one time Sensex was more than 21000 points. Then it came down to less than 8000 points. After that it has been going up and down.