Kerala govt not likely to increase welfare pension this year; Reports
By Rashmi Kuttan | First Published Jan 28, 2024, 12:56 PM ISTKerala finance minister KN Balagopal will present the budget for this fiscal year on February 5. Anticipations are high for positive announcements in areas impacting the public, particularly initiatives related to SupplyCo.
Thiruvananthapuram: The state budget may not see an increase in welfare pension this time, as per the opinion of the finance minister, K. N. Balagopal. Despite the declared policy to raise the pension to Rs 2,500 by the end of the second term of the Pinarayi government, the current financial situation is reportedly not conducive to such an increment. Kerala finance minister KN Balagopal will present the budget for this fiscal year on February 5.
Anticipations are high for positive announcements in areas impacting the public, particularly initiatives related to SupplyCo. However, as the budget presentation approaches on February 5, concerns arise as the welfare pension arrears in the state are expected to accumulate for six months. This marks an unprecedented delay in addressing such significant arrears during the first term of the Pinarayi government.
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Despite the government's commitment to allocate 900 crores monthly, prioritizing social security schemes, there is hesitation to increase pension amounts this time. With only Rs 750 crore collected through the budgeted fuel cess. The finance minister has taken the stand that the financial situation is not favorable. There is an opinion within the CPM that the decision should be reconsidered as there is a possibility of frequent announcements in the Union Budget ahead of the elections.
The upcoming budget is reportedly set to adopt a broader perspective on social security schemes. Anticipated announcements aim to address public concerns directly, salvaging the government's image. Despite election-related considerations, the report on restructuring the Supplyco system, coupled with price hikes, has not been shelved.
The Finance Minister assured proactive measures to avert shortages in Supplyco. Additionally, there's an expectation of ample funds to address the agricultural sector crisis, particularly concerning rice storage prices.
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