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Odisha Chief Minister Naveen Patnaik has announced a hike of Rs. 500 in the monthly pension covered under various social security schemes in the state. The increase applies to beneficiaries of the National Old Age Pension Scheme, Indira Gandhi National Widow Pension Scheme, and Madhu Babu Pension Yojana, benefiting 5.7 million people. The decision, effective immediately, will place an annual financial burden of Rs. 3,683 crore on the state's coffers.
Under the revised scheme, individuals aged between 60 and 79 years will receive Rs. 1,000 per month under the old age pension, while those above 80 years will receive Rs. 1,200. Meanwhile, beneficiaries of the Madhu Babu Pension Yojana will also receive Rs. 1,000 per month. This announcement holds significance as Odisha gears up for upcoming elections, with Patnaik previously making a similar move ahead of the 2019 polls, increasing the monthly pension amount by Rs. 200.
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