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India's defence veterans face hardship after switch from old pension disbursement system to new online portal
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Border roads get a massive 40% allocation boost, keeping in mind a tense two-front border. Infra development, OROP, self-reliance among key priority areas.
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Of the many concerns surrounding the OROP debate, one of the most important relates to its impact on India’s defence budget. More than 30 percent of the 2020-21 budget was gobbled up by pension entitlements — a growth rate which may become unsustainable for the government in the near future
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The rest will be matched by savings of the ministries/ departments or by enhanced receipts/recoveries aggregates.
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Seeking to reach out to retired soldiers, Union government today assured the ex-servicemen that it was taking all steps for "resolving the anomalies" in One Rank One Pension (OROP) and Seventh Pay Commission.
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He attacked Congress Vice-President Rahul Gandhi, saying he was politicising the suicide and no one should try to change a personal tragedy into political gain.
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The Union minister said the government has already disbursed more than Rs 5,500 crore for implementing the OROP scheme.
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Benefits from a favourable monsoon during the current year and expected healthy kharif output supporting rural cash flows are expected to be key factors leading the growth, the rating agency said in a report.
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"98 lakh central government employees feel disillusioned, let down and short-changed by the lopsided and inadequate hike in salaries and allowances by Modi government in these times of runaway inflation and all-round increase in prices," party's chief spokesman Randeep Surjewala said.
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The implementation of the new pay scales is estimated to put an additional burden of Rs 1.02 lakh crore on the exchequer in 2016-17. Subject to acceptance by the government, it will take effect from January 1, 2016.
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"The government has taken steps in defence sector by increasing FDI. This has been done in order to make India an export hub over the years," he said while addressing a meeting with the ex-servicemen here.
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The tenure of the committee formed on implementation of One Rank One Pension (OROP) scheme has been extended by six months up to the middle of December this
year
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Referring to Congress leader Girija Vyas, who was here yesterday and accused Modi government of rechristening UPA government's schemes, the minister said that their opponent's intention and implementation of the schemes were not right.
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Taking on the opposition parties particularly the Congress, Shah pointed out that after several years of scams by the United Progressive Alliance (UPA), the country had finally a government which cannot be accused of indulging in corruption.
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Over Rs 3,186 crore has been paid to more than 17 lakh military veterans on account of One Rank
One Pension (OROP) scheme and 100 per cent compliance is expected by the month-end, Defence Minister Manohar Parrikar said on May 9.
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"The indefinite relay fast has been suspended now as we will be taking the legal recourse. Defence Minister Manohar Parrikar had said that proverbial gun was been held to the head of the government by virtue of our presence at Jantar Mantar.
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Under the scheme, pension would be revised on the basis of the pension of retirees of calendar year 2013 and the benefit will be effective from July 1, 2014.
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As to the more than 1.46 lakh family pensioners, the government will credit the new benefits by the end of this month, the Defence Ministry said in a statement.
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The government had in November last year formally notified the OROP scheme for the more than 24 lakh defence ex-servicemen and 6 lakh war widows in the country.
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"For economy, there is no sign of sharp turnaround in the coming fiscal. It needs support from accommodative monetary policy and less restrictive fiscal policy plus structural reforms (to have a turnaround)," Dharmakirti Joshi, Chief Economist, Crisil, told a gathering during the two-day India Rubber Meet-2016 that began here today.
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However, Finance Minister Arun Jaitley made no mention of the defence allocation for 2016-17 in his Budget speech.
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The higher allocation is on account of the implementation of One Rank One Pension (OROP) and 7th Pay Commission
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But considering the fact that the government expects full-year GDP (FY16) to grow at 7.6 percent, making India the fastest-growing economy in the world, surely there is no need to deviate from the fiscal target
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Terming the Narendra Modi government's recent proposal on OROP just an increment, the veterans have rejected it outrightly adding that they felt cheated and betrayed.
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Global tremors arising out of the turmoil in China is the biggest factor driving stock prices down, says Jagdish Malkani, Member, NSE.
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