Andhra Pradesh Allocates ₹34,000 Crore for Pension Scheme Boost

Andhra Pradesh is taking a leading role in social welfare spending, particularly in the area of pensions, as highlighted by state minister Kollu Ravindra on December 1, 2023. The minister, who oversees the mines, geology, and excise portfolios, announced that the state government is heavily investing in pension schemes aimed at supporting its citizens.

Significant Budget Allocation for Pension Scheme

The government has earmarked an impressive ₹34,000 crore for the NTR Bharosa pension scheme, which is set to benefit over 63,25,999 people this month alone. During a media briefing, Ravindra stated that on December 1, the state distributed a total of ₹2,739 crore in pensions, underscoring the government’s commitment to social welfare.

Ravindra also mentioned that the current administration has sanctioned 1,08,000 spouse pensions since taking office, a marked increase compared to the previous YSR Congress Party (YSRCP) government, which did not issue any spouse pensions during its tenure. This initiative reflects the coalition government’s priority of expanding social safety nets for families.

Financial Commitment Over the Past 18 Months

Over the past 18 months, the Andhra Pradesh government has allocated ₹50,763 crore to pension payments, demonstrating a sustained commitment to social welfare. Minister Ravindra emphasized that this financial support is crucial for the well-being of many families across the state.

In a personal touch, Chief Minister Chandrababu Naidu has been actively involved in the pension distribution process, directly handing out funds to beneficiaries. This approach not only enhances transparency but also reinforces the government’s dedication to its citizens.

As Andhra Pradesh continues to lead in social welfare initiatives, the significant pension allocations serve as a model for other states in India. The ongoing financial support for the elderly and vulnerable populations reflects a growing recognition of the importance of social safety nets in promoting economic stability and individual well-being.