Public Provident Fund(PPF) Interest Rates On A Falling Spree ,but PPF still gets you more

On December 27, 2017 the NDA Government slashed Interest Rates for small-savings schemes for period ranging from January to March period by 0.2 percentage.

The interest rates also stand reduced for one of the most popular small saving schemes- Public Provident Fund(PPF)

So, does PPF still make for a good investment option?