Implementation of ‘One
Rank One Pension’ scheme, the long-standing demand of Armed Forces veterans, is
likely to cost the exchequer Rs 7,500 crore to Rs 10,000 crore, Union Minister
Rao Inderjit Singh said today.
The government has
already made it clear that One Rank One Pension (OROP) will be implemented with
effect from April 1, 2014, the Minister of State for Defence told reporters
here.
He said that the
Defence Ministry had recently forwarded to the Finance Ministry the cost which
the scheme’s implementation would entail.
“It is likely to cost
us somewhere between Rs 7,500 crore to Rs 10,000 crore,” he said, adding that
the previous UPA government had made a mere announcement with regard to OROP.
“During the past four
to five months, we have gone deep into this. We have calculated the entire cost
now,” he said.
Source: The
Economic Times
