Finance Department sanctions Rs.900 crore; welfare pension disbursement from Wednesday

THIRUVANANTHAPURAM: Welfare pension for one month will be distributed from next Wednesday. The Finance Department has sanctioned Rs 900 crore to settle one month's pension arrears. Finance Minister KN Balagopal informed that of the 62 lakh welfare pension beneficiaries, all those who have completed mustering will receive the amount. Five months of pension arrears are now to be distributed. Two months' dues were distributed before the Lok Sabha elections.

The government had earlier announced that the pension would be distributed from April onwards. Efforts were made to find the amount for pension distribution by forming a cooperative consortium, but the finance department was unable to raise the expected amount. The government says that the severe financial crisis is the reason behind the delay in the distribution of welfare pensions. The central government had given permission to the state to borrow another 18253 crore rupees recently.

Pension will be delivered through account to those who have bank account and directly to home through cooperative societies for the rest.