In a statement, Kerala Finance Minister KN Balagopal said around 62 lakh pensioners would receive $1,600 each within this week.
For 26.62 lakh people, the amount will be directly transferred to their bank accounts, while the rest will receive it through cooperative banks and the payments will be delivered to their homes.
Despite the financial challenges, the government is committed to ensuring timely distribution of monthly social pensions, he added.
Earlier, three pension installments were disbursed during the Onam festivities in August.
Since March, monthly pension distributions have been assured. Since this government took office, around $32.1 billion rupees have been distributed as social pensions, Balagopal said.
He also highlighted that Kerala has implemented the most comprehensive social security pension scheme in India, noting that “98 per cent of the funds required for it come from the State, and only two per cent comes from the central government.” Of the 62 lakh beneficiaries, only 5.88 lakh people receive an average of $300 as help from the central government. In Kerala, pensioners receive $1,600 per month, and the rest is covered by the State.
The minister pointed out that the central government’s contribution has been delayed due to $375.57 crore for the period from July 2023 to September.
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(Edited by: Poonam Behura)
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