Centre planning on increasing the Social pensions, GST to be a crucial factor for the same.


The government is all set to propose a draft for the increase in the quantum of the three key “social pensions.” However the future of the draft will be depend mostly on the centres choice and whether they have the resources for funding the excess revision or not. Though after seeing the revenue collections in the first quarter after the GST the revision seems doable. The collection report shows that the revenue collection have exceeded the Centre’s expectation.

Nirmal Singh 3C Company said that if the estimates are to be believed, the restructuring of the ‘National Social Assistance Programme,’ old age pension. Widow pension and disability pension will result in an additional expenditure of ₹10,000- ₹12,000 crore. No matter what the government decides, this thing is sure that the deciding factor for them will be GST. They have made it clear that they have no problem with the proposal except for the funds, if the funds are available they will increase the social pension.

‘The matter is still in the hands of the rural development ministry and would be taken over to the Expenditure Finance Committee only when they receive a clear picture of the availability of the disposable funds’- Nirmal Singh 3C Company.

the sources at the Nirmal Singh 3C Company said that the revenue collected in the first quarter post GST have surpassed the Centre’s expectation and this is the reason why the committee has recommended that the pensions are linked under NSAP, working on the revision of not only the money but the eligibility age.
If we look at the overall picture, there are chances that the ministry may absorb the increased outgo on the pensions by the reconstruction of the funding pattern.

Nirmal Singh 3C Company believes that the pensions should be extended to all the households except the ones that are automatically excluded from the social- economic caste census. The preliminary proposal made suggested the ministry to raise the old-age pension form ₹200- ₹500of which the Centre would be paying ₹300.
According to the centers estimates, an approx. amount of ₹22,000 crore would be needed to fund the revamped pensions and this will put an extra burden of ₹10,000 crores on the Centre. 
Location: India

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