Indian Govt. launches $960 million old age pension scheme for the poor
The Indian Government on Monday launched an old age pension scheme for the millions of poverty stricken people, which will draw Rs.3772 crore ($960 million) annually from the state exchequer.
According to a government source, the pension plan, named after the late Prime Minister Indira Gandhi, is part of the series of welfare measures planned by the coalition government as it gears up for the elections scheduled in 2009. The new scheme, for which people over 65 years and below the poverty line will be eligible, will bring within its fold 16 million people from the present 8.7 million.
Prime Minister Manmohan Singh said the new scheme covered all above the age of 65 years and living on subsistence income.
"Our next step should be to widen the coverage to all vulnerable groups. There is merit in including widows and physically disabled in the ambit of social assistance. The old age pension scheme needs to be further extended to cover all those above 60 years. We hope to do this in future," Singh said while launching the scheme distributing pension policy papers to 21 senior citizens from various states.
"As a nation we traditionally hold our elder members of society in high esteem. Their presence in our family, in our neighbourhoods and in our communities makes our lives more meaningful. It is our bounden duty to ensure that they live happily, healthily and securely in old age," Singh said. "Today our government has taken a small step to bring a smile on the face of our senior citizens."
The prime minister pointed out the necessity of implementing such a scheme, saying that many elderly people in the country have been facing difficulties in sustaining themselves in the old age due to rapid urbanisation with the breakdown of the joint family system, the growth of nuclear families and the increasing longevity.
"Therefore, it has become necessary that we have modern systems of social security in place for the elderly. Further, the absence of adequate public healthcare facilities and the rising cost of private healthcare facilities make it imperative that social security be provided to the elderly," Singh said.
Earlier this year, the government raised a monthly pension payment to elderly poor to Rs.200 from Rs.75, with state governments asked to make a matching contribution.
Launching the scheme on Monday, Singh urged the states to take the scheme as their own, make a contribution of matching amount and ensure that "no one is left out."
Presently, only 11 states provide a matching contribution of Rs.200 per person towards the scheme.
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