Chandrababu Naidu's pension hike scheme costs an additional of Rs.5,000 crores
June 13, 2014 - Hyderabad
The tax payers in the State have to cough up an additional of Rs.5,000 crores a year to make the Chief Minister Chandrababu Naidu to implement his pension hike scheme that comes into effect from October 2 this year.
Experts say that the pension scheme will cost more than Rs.4,500 crore per year and including pensions to the physically challenged and insurance policy for Self Help Group women, it will cost more than Rs.5,000 crore per year.
At present, there are 44,41,795 people in AP who are availing social security pension of Rs 200 per month. Out of this, old-age pensioners are 25,56,226, weavers 85,748, disabled 4,97,056 and widow pensioners are 10,45,749. Apart from these, pension is also being distributed to toddy tappers and self-help group women under the Abhayahastam scheme.