Maharashtra adopts Unified Pension Scheme; greenlights major river linking, power projects

The Rs 7,000 crore Nar-Par-Girana river linking project, which will benefit northern Maharashtra districts such as Nashik and Jalgaon, has been approved.

Maharashtra cabinet on August 25 decided to adopt the Unified Pension Scheme (UPS) for state government employees, which was announced by the Union government the previous day.

On August 24, the central government approved the UPS for central government employees who started service after January 1, 2004. Those covered under the National Pension Scheme who opt for UPS will receive a guaranteed pension equal to 50% of their average basic pay from the last 12 months before retirement, with a minimum qualifying service of 25 years.

Under the Maharashtra cabinet's decision, the UPS will be implemented from March this year, benefiting all state government employees, according to an official statement.

Maharashtra assembly’s term is ending in November and elections are expected in October-November.

The cabinet also approved the expansion of the uninterrupted power supply scheme to provide daytime electricity to more farmers. The Rs 7,000 crore Nar-Par-Girana river linking project, which will benefit northern Maharashtra districts such as Nashik and Jalgaon, has been approved.

Furthermore, the state government plans to raise Rs 5,000 crore through Mahatma Phule Renewable Energy and Infrastructure Technology Ltd for a major project in Thane district, the constituency of Chief Minister Eknath Shinde.

The cabinet also decided that the revenue relief for land owned by BJP Lok Sabha member and royal scion Udayanraje Bhosale will extend to his successors.

(With PTI contributions)