Maharashtra Cabinet Approves Old Pension Scheme For Govt Employees Who Joined After Nov 2005
Maharashtra CMO confirmed the cabinet's nod to a proposal offering the Old Pension Scheme (OPS) for state government employees who entered service after November 2005.
The Maharashtra cabinet on Thursday granted approval to a proposal offering the Old Pension Scheme (OPS) as an option for state government employees who entered service after November 2005. The decision follows recent strikes by government and semi-government employees and officials advocating for the reinstatement of the OPS, news agency PTI reported.
The Chief Minister's Office (CMO) confirmed the cabinet's nod to the proposal, stating that around 26,000 state government employees selected before November 2005 but receiving joining letters later would benefit from this decision.
Vishwas Katkar, the general secretary of the Maharashtra State Employees' Confederation, told PTI, "The cabinet's decision will benefit some 26,000 state government employees who were selected before November 2005 but received joining letters later." He added that it's a one-time option for these employees.
Under the OPS, government employees receive a monthly pension equivalent to 50% of their last drawn salary without the need for contributions. The OPS was discontinued in the state in 2005. The cabinet has given the 26,000 employees six months to choose between OPS and the New Pension Scheme (NPS) and submit relevant documents within two months, PTI's report mentioned.
Explaining the NPS, employees contribute 10% of their basic salary plus dearness allowance, with the state making a matching contribution. The funds are then invested in pension funds approved by the Pension Fund Regulatory and Development Authority (PFRDA), providing market-linked returns.
Maharashtra Cabinet Approves Toll for Mumbai Trans Harbour Link, and Other Proposals
In addition to the pension scheme decision, the cabinet approved a toll amount of Rs 250 for cars using the Mumbai Trans Harbour Link (MTHL), the country's longest sea bridge, connecting Sewri in Mumbai to Nhava Sheva in Raigad district. The MTHL, set to be inaugurated by Prime Minister Narendra Modi on January 12, will significantly reduce travel time from two hours to 15-20 minutes.
The cabinet also greenlit a proposal to issue a Rs 5 per litre subsidy to milk producers in the state. Cooperative and private milk dairies must first deposit money into producers' bank accounts before the state transfers its contribution. The government has fixed milk standards at 3.5 fats and 8.5 SNF, with provisions for excess or lower standard points.
Furthermore, the cabinet approved a monthly allowance of Rs 5,000 for clerks-typists working in the Mantralaya, allocating Rs 11.34 crore for the benefit of 1,891 clerks-typists due to a high attrition rate, PTI reported.
Other decisions include a substantial contribution of Rs 750.49 crore from Maharashtra to build a broad-gauge railway line between Nanded district and Bidar in Karnataka, relaxation of NPA conditions benefiting 400 units in Ichalkaranji Powerloom Mega Cluster, and a wine industry stimulus scheme for the next five years to promote sector development.
In a bid to boost the railway connectivity of rural areas, the state government has adopted a policy covering 50% of the railway line construction cost between Nanded and Bidar. Additionally, a change in the no-confidence motion timeframe for officers from six months to two years and the implementation of a five-year wine industry stimulus scheme were also approved.
As per PTI, the CMO stated, "The wine industry stimulus scheme will be implemented for the next five years to develop the sector in the state." Moreover, industries paying value-added tax will receive timely rebates, fostering raisin production and encouraging grape cultivation.
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