Growth in pension bill of states and UTs slowed in FY23, says RBI

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Growth in pension bill of states and UTs slowed in FY23, says RBI - Business Standard

Quick Summary:

Previously, the pension bill has increased by 13.

Meanwhile, the total amount budgeted by the states for pensions during FY24 is expected to rise by 11.7 per cent to Rs 5.22 trillion, which is nearly double the amount that was spent by the states on pensions in FY18 (Rs 2.75 trillion).

Maharashtra became the first state to offer UPS to its employees after the announcement, with other states expected to follow suit once operational details become available.