The finance ministry will close subscription of 8 percent Government Savings (Taxable) Bonds, 2003, with effect from tomorrow. In 2003, the government came out with bonds for a fixed tenure of 6 years offering 8 percent interest to encourage retail investors to invest. The finance ministry said in a statement in New Delhi today that Government of India Savings (Taxable) Bonds, 2003 shall cease for subscription with effect from the close of banking business from tomorrow.The decision to discontinue the bond comes in the backdrop of declining interest rate in other saving instruments, especially the Post Office small saving schemes. Last week the finance ministry had reduced interest rateon various small saving schemes by 0.2 percent.