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Maharashtra becomes first state to implement Unified Pension Scheme | DETAILS

The Central government approved an assured pension of 50 per cent of salary for those who joined the service after January 1, 2004, under the National Pension System (NPS).

Edited By: Arushi Jaiswal @JaiswalArushi Mumbai Published : Aug 26, 2024 7:08 IST, Updated : Aug 26, 2024 7:08 IST
Maharashtra, UPS
Image Source : PTI (FILE) UPS will be effective from March this year

Maharashtra cabinet: The Maharashtra government, led by Chief Minister Eknath Shinde, has become the first in the country to implement the Unified Pension Scheme (UPS) for state employees. This move comes just a day after the Union Cabinet, chaired by Prime Minister Narendra Modi, announced the pension scheme nationwide.

The decision was made at a Cabinet meeting chaired by CM Shinde on Sunday. According to the Maharashtra cabinet's decision, the UPS will be effective from March of this year and will benefit all state government employees. It is important to note that the tenure of the Maharashtra Assembly ends in November this year, with elections likely to be held in October-November.

On Saturday, the Narendra Modi-led Centre approved the UPS for central government employees who joined the service after January 1, 2004. Employees under the National Pension Scheme opting for UPS will be eligible for an assured pension of 50 per cent of the average basic pay drawn over the last 12 months before superannuation. The minimum qualifying service has been kept at 25 years.

Cabinet nod to Rs 7k cr river link plan

The Maharashtra cabinet has also approved the expansion of the uninterrupted power supply scheme to benefit more farmers in the state, ensuring they receive power during the day. Additionally, the cabinet cleared the Rs 7,000 crore Nar-Par-Girna river linking project, which is expected to primarily benefit the northern Maharashtra districts of Nashik and Jalgaon.

The project involves lifting 9.19 TMC of water from the Nar, Par, and Auranga rivers, carrying it through a 14.56-kilometre tunnel, and releasing it in the Girna river basin near the Chankapur dam. The cabinet statement said it would benefit around 50,000 hectares of agricultural land under irrigation.

"The state government will raise Rs 5000 crore through equity and bonds under Mahatma Phule Renewable Energy and Infrastructure Technology Ltd for an ambitious project in Thane district. The total cost is expected to be Rs 6,049 crore. It includes cluster housing projects at Tekdi Bungalow, Hajuri and Kisan Nagar. Similar projects would come up at Chavindre and Pogaon in Bhiwandi, and Kosara under Chandrapur Municipal Corporation," the official said.

Notably, Thane is the home turf of Chief Minister Eknath Shinde.

Other major decisions taken by Maharashtra Cabinet 

  • The cabinet approved several major projects, including a medicity, a mangrove park, a chemical hub, and a digital university, with a cumulative expenditure of Rs 10,000 crore.
  • The revenue relief in force for land owned by BJP Lok Sabha member and royal scion Udayanraje Bhosale will continue for his successors as well, as per a decision cleared by the cabinet, the official added.
  • The cabinet approved a government guarantee for a Rs 29,000 crore payment to the Maharashtra State Electricity Distribution Company Limited (MSEDCL) to clear its dues. This includes Rs 20,388 crore as the loan amount and Rs 9,670 crore as interest on the outstanding loan. The state will borrow from financial institutions like RECL and PFC.
  • The cabinet approved a Rs 4,000 wage increase for ASHA facilitators, effective from April this year. This will require an additional outlay of Rs 17.59 crore for its implementation.
  • A proposal was cleared that places the responsibility of loan repayment by a cooperative sugar mill on the entire board of directors, both individually and collectively. The board members are required to submit bond letters to the cooperation department within 30 days of accepting their posts.
  • The cabinet approved 100 per cent scholarships for 763 eligible students of the Dr Babasaheb Ambedkar Research and Training Institute. The proposal also includes payment of Rs 37 crore for its implementation.
  • The cabinet approved a plan to expedite 228 slum rehabilitation projects in Mumbai, which will lead to the construction of 2,18,931 houses. Various corporations, including the Brihanmumbai Municipal Corporation, can jointly undertake these rehabilitation projects in the city.

(With PTI inputs)

Also Read: Unified Pension Scheme, NPS or Old Pension Scheme: Which one is more beneficial? | Know here

Also Read: Unified Pension Scheme ensures dignity, financial security for government employees: PM Modi

 

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