The Kerala government has shared good news with its workers and retired people. They announced to give more money to them in the yearly budget for 2024-25.
The State Finance Minister, KN Balagopal, said this while talking about the budget on Monday.
He explained that the extra money, called Dearness Allowance (DA), will be given to them all at once in April 2024.
Balagopal also mentioned that they are thinking about changing the pension system.
A new pension plan is on the way. Balagopal revealed this while discussing the budget. Workers and retired people have been asking for more DA for a long time.
Now, the government is also planning to start a Guaranteed Pension Scheme.
They will check the current pension system to see if any changes are needed. However, for now, there won’t be any increase in the Social Security Pension.
The Kerala Assembly was told in a report on February 2 that the state’s economy is growing well, about 6.6 percent.
The government has decided to increase the prices of stamp duty, building lease agreements, and liquor.
They also plan to give about Rs 553.31 crore for social security and welfare programs. Balagopal mentioned that they’ll try hard to invest more in higher education.
Additionally, around Rs 50 crore will go towards developing 20 tourist spots.
Last December, states like West Bengal, Meghalaya, and Punjab had already increased their DA.
Punjab did it on December 18, Meghalaya on December 20, and West Bengal on December 21. After Kerala, more states might also make similar decisions.
