Kerala Budget 2017: Pension for all above 60 years

While presenting his deficit budget on Friday, state Finance Minister Thomas Isaac blamed the Central government's demonetization for the financial woes of the state. The estimated revenue deficit rose to Rs. 16043.14 cr from Rs. 13935.53 cr in the last budget. 
 

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Giving the rationale behind increasing the budget expenditure, despite the economic problems prevailing in the state, Isaac said that a spike in the budget spending could only save the economy from recession. But the fire-fighting mode did not deter the Finance Minister from opening the purse strings for welfare schemes. 
 

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Isaac unveiled his plan for providing social security pension for all citizens above sixty years which would considerably increase the number of welfare pension beneficiaries in the state. He also increased the welfare pensions from Rs.1000 to Rs.1100. Currently, 49 lakh persons (including the disabled and widows) are receiving social security pensions.

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As per the new plan, people above 60 years old except those who receive service pensions, persons with more than 2 acres of land and income tax payers. An amount of Rs.10 cr has been additionally allocated for providing pension, educational facilities and health assistance to transgenders and also to provide financial support to their organisations and for fairs. 
 

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However, the budget proposes to bring a unified system to provide social security pensions and weed out those who enjoy more than one pension simultaneously by preparing a  comprehensive list of those who are eligible for the pension. Except for the disabled persons, EPF pensioners and pensioners of self-sustaining welfare funds, no one will be allowed to benefit multiple social welfare pension schemes at a time. 

The Finance Minister also proposed to enhance Pravasi welfare pension from Rs.500  to Rs.2000. An amount of Rs. 18 crore has been earmarked for the rehabilitation and skill development of Gulf returnees.

• Kerala Budget 2017
• Thomas Isaac
• Welfare pension