Old age pension hiked to Rs 200 a month

The government on Thursday increased the pension amount under the National Old Age Pension Scheme from Rs 75 to Rs 200 per beneficiary per month for persons of the age of 65 and above.

The increase will be effective from April 1, 2006, Parliamentary Affairs Minister Priya Ranjan Dasmunsi told reporters after the Union Cabinet meeting.

A sum of Rs 1,430 crore (Rs 14.30 billion) for this purpose has been provided in the Union Budget 2006-07 as additional allocation, he said, adding that the proposed increase will extend much needed financial support to old and destitute persons to manage their livelihood.