Tag: pension

JK Spending Rs 118500 Cr In 2023-24, 39 per cent for Salary, Pension

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SRINAGAR: Presenting her fourth consecutive budget estimates for federally ruled Jammu and Kashmir, Finance Minister Nirmala Sitharaman said the Union territory will spend Rs 118500 crore in fiscal 2023-24. The estimates were presented in the Lok Sabha on March 13, 2014.
Nirmala Sitharaman
The budget has put the funds for developmental activity slightly lesser than the estimates of the current fiscal. The capital expenditure stands at Rs 41491 crore. For fiscal 2022-23 – end on March 31, 2023, the overall developmental budget was put at Rs 41335 crore. However, the documents laid on the table put the revised estimates of the capital expenditure at Rs 31785 crore only indicating a failure in spending Rs 10,550 crore.
The budget estimates suggest that Rs 33530 crore will go as salaries, Rs 11563 as pension to the superannuating staff and Rs 8641 were g to “other” heads that are part of the primary revenue expenditure. That means 38.86 per cent of the total budget will go to the staff that man the government. Against booking an expenditure of Rs 44718 crore in 2022-23, the government would spend Rs 46055 crore on salary and pension of its staff in 2023-24.
JK Budget 2023-24: Read FM Nirmala Sitharaman Speech
The other key committed expenditures include Rs 9635 crore as interest payment – almost eight per cent of the overall expenditure. For the current fiscal the interest payments are at Rs 9076 crore.
For debt repayments – part of the capital expenditure, the budget has set aside a resource of Rs 8099 crore. For 2022-23, the target was to repay Rs 3521 crore but the administration eventually paid back Rs 5030 crore.
Interestingly, the budget has reduced the resource allocation for power purchases during 2023-24. It stands at Rs 3040 crore. In her last budget estimates, the resource allocated for power purchase for water-abundant and energy deficit Jammu and Kashmir at Rs 5000 crore. However, the revised estimates suggest only Rs 3074 crore was spent.
The capital expenditure of a territory – state or UT – includes all resources that go into the repayment of debts, advances and loans and the developmental activities. Off late, Jammu and Kashmir’s developmental budget comprises of two major components – the central sponsored schemes and the Prime Minister’s Development Programme (PMDP) plus certain special projects that the administration intends to implement. For 2023-24, the overall funds allocated for developmental activities are Rs 33184 crore, which includes Rs 17961 crores under PMDP and Rs 15223 crore under CSS. The Jammu and Kashmir will offer a mandatory contribution of Rs 3654 crore as its share to access CSS funds.

In fiscal 2022-23, Nirmala Sitharaman budget had allocated Rs 37505 crore for developmental activities of which Rs 19074 crore was under PMDP and other allied projects and Rs 18431 crore of central sponsored schemes. However, the revised estimates laid on the table in Lok Sabha suggest an expenditure of only Rs 26537 crore has been booked, which is Rs 10968 crore less. Was it for the lack of resources or Jammu and Kashmir’s sudden lack of capacity to spend remains unknown.
In the 2023-24 budget, 28 per cent (Rs 33184 crore) would go to pure developmental activities. It was supposed to be 33.2 per cent (Rs 37505 crore) as per the 2022-23 budget. However, the revised estimates suggest only Rs 26537 crore were booked for pure developmental activities, making it 24.84 per cent of the overall expenditure for the current fiscal.
On the income side, Rs 64319 crore (32 per cent) will come from the centre as grants (UTs are not entitled to have a share in the central tax collections so the matching funds are converted into grants), Rs 13174 crore is the tentative GST collection, Rs 1800 crore is the Sales Tax, Rs 2450 crore is the anticipated excise duty and another Rs 2925 crore will come from other taxable sources. The non-tax incomes have been estimated to be Rs 13593 crore of which Rs 6000 crore is expected to be the power tariff. The budget suggested Jammu and Kashmir will have additional resource mobilisation of Rs 7800 crore in the next fiscal. It includes many items including asset monetisation.
In fiscal 2022-23, the budget estimates had anticipated receiving 34116 crore from its own resource – tax plus non-tax. However, it ended up receiving only Rs 28012 crore. Though the all tax collections were achieved, the shortfall was in power tariff collections (got Rs 4609 instead of Rs 5000 crore) and additional resource mobilisation – it has project raising Rs 8802 crore but actually manage only Rs 2484 crore, according to revised estimates put in the budget papers. In the current fiscal, the Jammu and Kashmir government saved on power purchase – spent only Rs 3074 crore against a target of Rs 5000 crore and paid more interest (on debts) which was estimated to be Rs 7427 crore but ended up at Rs 9076 crore.
In the current fiscal ending March 31, 2022, the budget details said the overall expenditure booked by Jammu and Kashmir was at Rs 102445 crore of which 35208 crore went to capital expenditure, asset creation and interest payments.
Offering an idea about the overall income for funding the budget, the official budget documents suggest that 32 per cent will come as entitled central grants: 10 per cent is borrowing (debts), seven per cent is the PMDP fund; 16 per cent will be the central sponsored scheme funds; 17 per cent is Jammu and Kashmir’s own tax revenue; 11 per cent is Jammu and Kashmir’s own non-tax revenue and the balance seven per cent will be the additional resource mobilisation.
By the end of 2021-22, the total liabilities stand at Rs 101462 crore, which is almost 52 per cent of Jamu and Kashmir’s SGDP of Rs 195118 (on 2011-12 base at current prices). The budget plans to raise loans (capital receipts) of Rs 12439 crore, which includes Rs 1505 crore of negotiated loans, Rs 10128 crore of market borrowings.

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( With inputs from : kashmirlife.net )

March 14, 2023
Is BJP planning detailed study on old pension scheme?

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Jaipur: If sources in political circles are to be believed, the saffron party is thinking of working on the old pension scheme (OPS) for the government employees.
The BJP government in Karnataka has reportedly formed a committee to study the OPS. This committee will come to Rajasthan soon as the desert state has announced OPS for its state employees.
It needs to be mentioned here that the Assembly elections are to be held in Rajasthan, Madhya Pradesh and Chhattisgarh five-six months after the Karnataka polls which are scheduled somewhere in May, however the final date is to be announced.
In such a situation, it seems that the BJP will soon clarify its stand on OPS in these states also. If this happens, then the old pension scheme will become a big issue in the Lok Sabha elections to be held after 13 months.
Meanwhile, BJP state president Satish Poonia expressed his unawareness on any such development.
Speaking to IANS, he said, “This is a policy matter and Delhi has to decide on it. We will follow the line which the party gives us. Veteran leaders are analysing the issue and finding a ‘vikalp (solution)’ that will be the party line later on. We will be able to give an official version once it is finalised.”
Meanwhile, he said, “We spoke to Himachal Pradesh former Chief Minister and he denied OPS to be the key reason for why the party lost. There were many factors of the poll loss and one amongst was factionalism. The ex-Himachal CM told me.”
Congress leaders have been promoting that OPS was the major reason why the saffron party lost in Himachal, however, Poonia mentioned many other reasons for the party’s defeat.

Meanwhile, Poonia said that central leadership will decide on how to take this issue in future, he added.
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#BJP #planning #detailed #study #pension #scheme
( With inputs from www.siasat.com )

March 10, 2023
French Senate adopts pension reform as street protests continue

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The French Senate voted in favor of the controversial pension reform overnight, paving the way for a potential final adoption of the law on Thursday, as thousands of people continue to demonstrate across the country.
The widespread opposition to the retirement overhaul is a political test to French President Emmanuel Macron, whose liberal party has been struggling to pass the reform ever since it lost its majority in parliament last summer.
“A decisive step to bring about a reform that will ensure the future of our pensions. Totally committed to allow a final adoption in the next few days,” French Prime Minister Elisabeth Borne tweeted after the vote.
The French government wants to change the retirement age from 62 to 64, with a full pension requiring 43 years of work as of 2027. The right-leaning Senate adopted the reform with 195 in favor and 112 against the measure.
Hundreds of thousands of people demonstrated across France on Saturday, and protests were expected to continue on Sunday. So far, strikes have disrupted sectors including public transport, oil refineries, schools and airports.
On Sunday, Laurent Berger — who heads the largest French labor union — said: “I call on parliamentarians to see what’s happening in their districts. … You can’t vote for a reform that’s rejected by so many in the workforce.”
During the presidential campaign, Macron vowed to reform the French pension system to bring it in line with other European countries like Spain and Germany, where the retirement age is 65 to 67 years old.
Official forecasts show that the French pensions system is financially in balance for now, but it’s expected to build up a deficit in the longer term.

French labor unions are calling for a “powerful day of strikes and demonstrations” on Wednesday, when lawmakers from the Senate and National Assembly are set to hold a small-group meeting to find a compromise on the pensions revamp. If they do reach an agreement, the law could be adopted on Thursday.
The government could also ultimately decide to adopt the revamp using an exceptional procedure that requires no parliamentary vote.

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#French #Senate #adopts #pension #reform #street #protests #continue
( With inputs from : www.politico.eu )

March 9, 2023
Old Pension Scheme Order – Download PDF Here – Kashmir News

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Government of India Ministry of Personnel, Public Grievances and Pensions Department of Pension and Pensioners’ Welfare issued order that Coverage under Central Civil Services (Pension) Rules, in place of National Pension System, of those Central Government employees who were recruited against the posts/vacancies advertised /notified for recruitment, on or before 22.12.2003.
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March 5, 2023
Old Pension Scheme Order – Download PDF Here – Kashmir News

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Government of India Ministry of Personnel, Public Grievances and Pensions Department of Pension and Pensioners’ Welfare issued order that Coverage under Central Civil Services (Pension) Rules, in place of National Pension System, of those Central Government employees who were recruited against the posts/vacancies advertised /notified for recruitment, on or before 22.12.2003.
CHECK HERE ORDER
Old Pension Scheme Order Download PDF Here
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March 5, 2023
Congress MLAs in Haryana marches to Assembly over old pension scheme

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Chandigarh: Congress MLAs in Haryana on Tuesday marched to the Vidhan Sabha under the leadership of former Chief Minister and Leader of Opposition Bhupinder Singh Hooda to support the demand of government employees for restoration of old pension scheme (OPS).
The MLAs also raised issues concerning the public and highlighted the ‘failures’ of the BJP-JJP government in the state.
The party’s state unit chief Chaudhary Udaibhan specially joined the march.
“Unemployment, corruption, crime, inflation and atrocities are at their peak in the state. The government uses lathi-charge on the people raising their demands in a democratic way,” Hooda said.
“This government lathi-charged first the farmers, then the youth, then the employees and then elected representatives of the panchayats. The Congress is committed to raise its voice against such undemocratic actions of the state government, both on the streets and in the House,” he added.
Hooda said today Haryana is facing maximum unemployment in the country.
“About two lakh posts are lying vacant in government departments. Amid all scams and paper leaks, even in the isolated recruitments, people from other states are being selected instead of those from Haryana,” he said.
Citing the example of the latest recruitment of technical lecturers, Hooda said out of 157 general category candidates, about 100 from other states were selected.

“While all state governments give priority to the natives in recruitments, the BJP-JJP government in Haryana is sometimes giving preference to people from other states. In such a situation, where would the youth of Haryana go,” Hooda asked.
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#Congress #MLAs #Haryana #marches #Assembly #pension #scheme
( With inputs from www.siasat.com )

February 21, 2023
High Court Gave A Big Decision Regarding Pension! Government

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Pension Scheme: You will not be able to take advantage of the monthly pension scheme of Rs 18,500 after March 31! know why
Government employees got relief from the court regarding pension. The High Court has ruled in favor of the employees. Pension, which is a great support of old age, pension is of great importance to live the rest of the life with respect. In such a situation, the employees have got good news from the decision of the court.
New Delhi: Government employees got relief from the court regarding pension. The High Court has ruled in favor of the employees. Pension, which is a great support of old age, pension is of great importance to live the rest of the life with respect. In such a situation, the employees have got good news from the decision of the court.
Non-regular service period will also be added to total tenure
According to the report of news agency PTI, the Lucknow bench of Allahabad High Court said on Friday that non-regular service period of government employees will also be added to their total tenure while providing pension. However, the bench has declared the petitioners entitled to the benefits of pension for the last three years only.

This order was passed by a single bench of Justice Vivek Chaudhary while explaining the decision given by the Supreme Court in Prem Singh’s case in 2019 under section two of the Uttar Pradesh Pension for Qualifying Service and Validation Act 2021.
The employee has given his services, whether permanent or temporary
Justice Chowdhary said that eligibility for pension in Section 2 of the Uttar Pradesh Pension for Qualifying Service and Validation Act 2021 implies that the employee has given his services, even if the services are permanent are or temporary.
The court gave its verdict by approving 51 writ petitions together
The court has given this verdict by approving about 51 writ petitions filed separately on behalf of work in-charge employees, daily wage workers, ad hoc employees or seasonal collection amines. In the petitions, those orders of the government were challenged, in which it refused to consider the irregular services of the petitioners as eligible for pension by not adding them to their total service while taking the decision regarding grant of pension.
The court cited this decision of the Supreme Court.
In its decision, the bench, citing the decision given in the case of Prem Singh of the Supreme Court, said that even after working for the same number of years as the regular employees, the government employees of non-regular service Not adding it to the total length of service is discriminatory.
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( With inputs from : kashmirpublication.in )

February 19, 2023
THESE Farmers to Get Rs 3000 Monthly Pension With PM Mandhan Scheme- Details Here – Kashmir News

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THESE Farmers to Get Rs 3000 Monthly Pension With PM Mandhan Scheme
The Indian government has introduced several programs for farmers’ welfare, including the PM Kisan Samman Nidhi, Kisan Samridhi Kendras, the Kisan Credit Card Program, and the Pradhan Mantri Krishi Sinchayee Yojana. Farmers receive Rs 6000 annually through the PM Kisan Samman Nidhi in three equal instalments of Rs 2000. The central government has also created the Pradhan Mantri Kisan Maandhan Yojana (PMKMY) to assist farmers in their old age. This government scheme was created to provide social security and old-age protection to small and marginal farmers (SMF).
All small and marginal farmers, who have cultivable landholdings up to 2 hectares and who are between 18 and 40, are eligible to enrol in the pension plan under the program if their names are included in the land registers of the States/UTs. After turning 60, farmers covered by this program will earn a minimum guaranteed pension of Rs 3000 per month. The farmer’s spouse will be eligible to receive 50% of the pension as a ‘family pension’, in the event of the farmer’s death. Children are not eligible to be beneficiaries of the family pension, only spouses are.
Until they reach the age of 60, registrants between 18 and 40 would be required to make monthly contributions, ranging from Rs 55 to Rs 200. The applicant or subscriber can make a pension claim when they reach 60 years of age. A set pension amount is placed into their account each month.
Following the plan, the government provides a matching contribution. If a farmer contributes Rs 100 each month to the pension fund, the government will match that contribution. 1,92,5,369 farmers have so far chosen to participate in the Pradhan Mantri Kisan Maandhan Yojana.
One should keep in mind that only those small farmers who are not covered by any other statutory social security programs, such as the National Pension Scheme (NPS), Employees’ State Insurance Corporation program, or Employees’ Fund Organization program, are eligible for the Pradhan Mantri Kisan Maandhan Yojana. Farmers who chose to participate in the Ministry of Labour & Employment-run Pradhan Mantri Shram Yogi Maandhan Yojana and Pradhan Mantri Vyapari Maandhan are likewise ineligible to register for PMKMY.
PM Mandhan Scheme:
PM Kisan Maandhan Yojana
The government runs Pradhan Mantri Krishi Sinchayee Yojana, the Kisan Credit Card Program, the PM Kisan Samman Nidhi and many more welfare schemes for the well-being of farmers. Following suit, the Indian government launches Pradhan Mantri Kisan Maandhan Yojana (PMKMY) to help farmers economically as they age.
Benefits of PM Kisan Maandhan Yojana
If their names are included in the land registries of the States/UTs, all small and marginal farmers who have cultivable landholdings of up to 2 hectares and who are between the ages of 18 and 40 are eligible to enroll in the pension plan under the programme. Farmers who are enrolled in this programme would receive a minimum guaranteed pension of Rs 3000 per month after they turn 60. In the event of the farmer’s passing, the farmer’s spouse will be qualified to receive 50 percent of the pension as a “family pension.” Only spouses are entitled to receive the family pension; children are not.

Monthly Contribution
Participants must pay a monthly contribution of between Rs. 55 and Rs. 200. When they turn 60, the applicant or subscriber can file a pension claim. Each month, a predetermined pension amount is deposited into their account.
Age Requirement
One between 18 years and 40 can participate in the scheme. They can make a monthly contribution.
Eligibility Criteria
To qualify for the Pradhan Mantri Kisan Maandhan Yojana, a small farmer must not be covered by any other statutory social security programmes, such as the National Pension Scheme (NPS), Employees’ State Insurance Corporation programme, or Employees’ Fund Organization programme. Farmers who decided to participate in the Pradhan Mantri Shram Yogi Maandhan Yojana or the Pradhan Mantri Vyapari Maandhan are administered by the Ministry of Labour & Employment, are also ineligible to enrol for PMKMY.
(AGENCIES)
ALSO READ: PM Kisan 13th Installment Date: Beneficiary Status PDF 2023 Check By Mobile Number Here
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( With inputs from : kashmirnews.in )

February 18, 2023
Big Blow For Government Employees ! Pension And Gratuity Will End! Notification Released – Kashmir News
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You can lose your Pension, Gratuity for doing this- check details below in the article
The Indian governmen hast issued a big announcement Regarding gratuities and pensions of government employees. The new regulation will apply to employees of the central and, eventually, it will also be implemented for the states also.
The Central Government has announced a revision to Rule 8 of the CCS (Pension) Rules 2021. In accordance with the Central Civil Services (Pension) Rules 2021, A retired Central Government employee’s pension and gratuity may be cancelled if they were found guilty of serious misconduct or negligence while on the job or duty.
The modification outlines the decision-makers who have the authority to withhold a retired employee’s pension, gratuity, or both. of which are –
President
-Secretary of the administrative department
-Auditor- General of India
in accordance with the new Rule 8 that was released on October 7 The aforementioned agencies have the right to cancel a pension in whole or in part if the retiree is found guilty of “serious misconduct or neglect during the duration of employment” in any departmental or legal procedures, . After-retirement reemployment services could also be examined.
The government has the right to permanently or temporarily withhold a pension or gratuity of employees. The ability to order the full or partial recovery of any financial loss suffered by the government from a pension or gratuity is another power they have.
In accordance with this sub-rule the Union Public Service Commission shall be consulted Before the President gives any final directions . In circumstances when a portion of the pension is withheld or removed, the pension cannot be reduced below the minimum pension under rule 44, which is Rs 9000 per month.
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January 29, 2023
Masoodi Seeks Extension In Aadhaar Seeding Of Disability Pension Beneficiaries

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SRINAGAR: The Jammu and Kashmir National Conference senior leader and MP (Ang) Hasnain Masoodi on Saturday asked the administration to extend the date of Aadhaar seeding of Disability pension beneficiaries.
Expressing concern over the plight of disability pension beneficiaries, Masoodi said that in view of the ongoing harsh winter season the administration should extend the seeding date so that maximum number of beneficiaries are able to link their pension accounts with their Aadhaar numbers.
Pending the Aadhaar seeding, Masoodi asked the administration to continue disbursement of monthly disability pension to beneficiaries.
“It is not possible for the physically crippled and challenged people to get their pension accounts Adhaar seeded in such a short span of time. Most of the upper reaches and outlying hamlets continue to remain disconnected from their nearby towns and district headquarters. Hastening the process, it goes without saying, will result in the financial exclusion of thousands of beneficiaries. Therefore it is imperative for the administration to fine tune the Aadhaar seeding with local climatic conditions,” he said.
He also impressed upon the government to increase the disability pension in view of the rising inflation and price rise. “The financial assistance given to the beneficiaries is too little to cover their nutritional needs, let alone meet their healthcare expenses. Therefore in the true spirit of being a welfare state, the government should increase the monthly assistance of the disabled up to Rs 5000 per month,” he said.

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#Masoodi #Seeks #Extension #Aadhaar #Seeding #Disability #Pension #Beneficiaries
( With inputs from : kashmirlife.net )

January 28, 2023