The ‘One Rank, One Pension’ scheme has been updated by the Center to now include over 25.13 lakh veterans. With effect from July 1, 2019, the scheme was modified by the Union cabinet.
There will be an arrearage payment of Rs 23,638 crore for the time frame of July 2019 to June 2022.
Around Rs 8,450 crore at 31% dearness relief has been calculated as the estimated yearly cost for implementing the revision (DR).
Based on DR at 17% for the period from July 1, 2019 to June 30, 2021, and at 31% for the period from July 1, 2021 to December 31, 2021, arrears with effect from July 1, 2019 to December 31, 2021 have been estimated to be over Rs 19,316 crore.
According to the applicable dearness relief, the arrears with effect from July 1, 2019, to June 30, 2022, have been estimated at about Rs 23,638 crore. Beyond what is already being spent on OROP, this expense is made.
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