Odisha Chief Minister Naveen Patnaik on Saturday announced a hike in the monthly old-age pension under Madhu Babu Pension Yojana (MBPY).
As per the new announcement, people who are getting 300 will now get Rs 500 while people aged 80 years and above will get Rs 700 from existing Rs 500. The beneficiaries would received the increased old-age amount with effective from February 15.
About 48 lakh beneficiaries, including the old men, women, physically challenged, widows and destitute women in the state, will benefit from the revised pension which will come into effect from February 15 this year.
The state government had launched Madhu Babu Pension Yojana on January 1, 2008, by merging the two pension schemes – Old Age Pension and Odisha Disability Pension schemes.
All the beneficiaries being covered under the State Old Age Pension Scheme and the Odisha Disability Pension Scheme in the state came under the Yojana from the date of its launch.