EAC-PM Member Sanjeev Sanyal on OPS: For the last few days, there is a lot of discussion on the old pension scheme in the country. Opposition governments are implementing the old pension scheme in their states. Sanjeev Sanyal, a member of the Prime Minister’s Economic Advisory Council (EAC to PM), has now expressed concern over this. He has described it as a big threat to the future generations.
Speaking to PTI on Monday (December 26), Sanjeev Sanyal said, “Unfunded pension schemes ultimately harm future generations.” “Therefore, one must be very careful in reversing the pension reforms that have been done with great difficulty over the past few decades,” he said.
expressed concern over the international situation
Sanyal said, “Looking at the global economy and international situation at the present time, it is quite clear that even in 2023 the situation will not be right.” He said, “Given the current circumstances, tampering with the economy can be very dangerous.” However, he did not describe India’s economy as much of a threat. According to Sanyal, India can achieve an economic growth rate of 9 percent for many years.
OPS told a threat to the future
Talking about the old pension scheme, he said, “Under OPS, the entire pension amount was given by the government. Whereas, under the new pension scheme, employees contribute 10 per cent of their basic salary towards pension, while the state government contributes 14 per cent.” .” “Great care must be taken when reversing pension reforms that have been done with great difficulty,” he said.
OPS has been implemented in these states
Let us inform that Rajasthan and Chhattisgarh have already implemented the old pension scheme in the Congress-ruled states. Now the Congress government of Himachal Pradesh is also going to restore the old pension scheme. Jharkhand has also decided to roll back OPS, while Aam Aadmi Party-ruled Punjab has recently given approval to reintroduce OPS.
May be a big issue in 2024
The BJP-led NDA government had decided to close the Old Pension Scheme in December 2003. This scheme was discontinued from 1 April 2004. However, now many organizations and opposition parties are insisting on implementing the old pension scheme. The stand of the Center shows that at present the government does not want to implement it. During the general elections in the year 2024, the issue of implementation of OPS can become big.
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