51 prominent economists have written to Union Finance Minister Nirmala Sitharaman for an increase in social security pensions and adequate provision for maternity benefits ahead of Budget 2023 expectations. This letter is a follow up to their letters from December 20, 2017 and December 21, 2018, which were addressed to the former Finance Minister late Arun Jaitley.
The honorary professors at Delhi School of Economics Jean Dreze, University of California Berkeley professor emeritus Pranab Bardhan, IIT Delhi professor of economics R Nagaraj and JNU professor emeritus Sukhadeo Thorat are among the signatories. Since 2006, the central government's contribution to old-age pensions under the National Old Age Pension Scheme NOAPS has remained at Rs 200 per person per month. It said that the contribution should be raised immediately to at least 500 or more. An additional budget allocation of 7,560 crore would be needed to cover 2.1 NOAPS beneficiaries.
The letter said that widow pensions should be increased from 300 per month to a minimum of 500 per month. This would cost another 1,560 crore. The letter stated that the budget 2023 -- 24 should provide full-fledged implementation of maternity entitlements as per NFSA norms.
The letter said that at least Rs 8,000 crore is required. The illegal restriction on maternity benefits for one child per woman should be removed along with this. Finance Minister Nirmala Sitharaman will present the budget on February 1. This will be the last full budget of the Modi government in its second term, as elections are due in April-May 2024.