Union Budget 2023-24: Top economists pitched for increase in social security pension and maternity benefit ahead of Union Budget 2023-24. 51 eminent economists wrote to Finance Minister Nirmala Sitharaman, seeking increase in social security pension and adequate provision for maternity benefit.
Jean Dreze (Honorary Professor, Delhi School of Economics), Pranab Bardhan (Professor Emeritus of Economics, University of California Berkeley), R Nagaraj (Professor of Economics, IGIDR, Mumbai), Ritika Khera (Professor of Economics, IIT, Delhi), and Sukhdev Thorat (Professor Emeritus, JNU), among others, was a signatory to the letter.
“This is a follow-up to our letters dated 20th December 2017 and 21st December 2018 (addressed to your predecessor Shri Arun Jaitley) where we sought to identify two priorities for the next Union Budget: enhancement of social security pensions, and maternity benefits Since both the proposals were ignored, we are writing again, before the next budget, with similar recommendations,” the letter said.
According to the letter, the central government’s contribution to old age pension under the National Old Age Pension Scheme (NOAPS) has stagnated at just Rs 200 per month since 2006.
It said, “This is unfair. It is also a missed opportunity.”
The letter states that the central government’s contribution should be increased to at least Rs 500 (preferably more) immediately.
“This requires an additional allocation of Rs 7,560 crore based on the existing NOAPS coverage (2.1 crore pensioners),” the letter said. least.
According to the letter, it will cost only Rs 1,560 crore.
The signatory economists also demanded that the Union Budget 2023-24 should provide for full implementation of maternity rights as per NFSA norms.
“At least Rs 8,000 crore is needed for this. Along with this, the illegal restriction of maternity benefit to one child per woman should be removed,” he said.
Finance Minister Nirmala Sitharaman will present the Budget 2023-24 in Parliament on February 1, 2023.
(with PTI inputs)
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