Kerala government allocates funds for social security pensions amid financial challenges

In a determination to uphold its payment initiatives, the Left Democratic Front (LDF) authorities of Kerala announced connected Monday that it would allocate funds for the disbursement of societal information pensions to 62 lakh beneficiaries successful the state.

Kerala Finance Minister K.N. Balagopal stated that each pensioner would person Rs 1,600 wrong the week. Of the full beneficiaries, 26.62 lakh volition person the magnitude straight successful their slope accounts, portion others volition person their payments delivered done cooperative banks to their homes.

Despite facing fiscal constraints, the authorities remains committed to ensuring the timely organisation of monthly payment pensions. Balagopal noted that erstwhile installments of the pension had already been disbursed arsenic portion of the Onam festivities successful August, and monthly distributions person been maintained since March.

Since taking office, the authorities has disbursed astir Rs 32,100 crore successful payment pensions. 

Balagopal emphasized that Kerala boasts the astir broad societal information pension strategy successful India, with 98 percent of the backing sourced from the authorities and lone 2 percent from the cardinal government. 

Out of the 62 lakh beneficiaries, lone 5.88 lakh individuals person an mean of Rs 300 arsenic assistance from the cardinal government.

Currently, pensioners successful Kerala person Rs 1,600 per month, with the authorities covering the remaining amount. Balagopal besides pointed retired that the cardinal government's publication has faced delays, amounting to Rs 375.57 crore for the play from July 2023 to September.