June 2, 2022
1 min read

TN to raise pension bill to Rs 40,000 crore

The official said that the state government has funds to settle the benefits of the retired government employees, which include four senior Additional Secretaries and 45 other officials from the state Secretariat….reports Asian Lite News

The Tamil Nadu government’s pension bill is set to increase to Rs 40,000 crore this financial year as around 20,000 government employees are retiring from service.

As many as 5,200 Tamil Nadu government employees retired on Tuesday and around 15,000 will retire in December 2022, thus leading to a huge number of vacancies in various government departments. The state government will however have to deal with a huge volume of payments to the retired employees including their benefits and recurring monthly pension.

The state government has spent an amount of Rs 26,410 crore in the financial year 2021-22 as retirement benefits and pension to the employees retired and now the estimated expenditure for 2022-23 for retirement benefits will be around Rs 40,000 crore.

However, a senior official with the state Treasury Department told IANS that this was not the amount for those retiring this year and instead this includes regular pensioners, family pensioners, and those opting for one-time settlement.

The official said that the state government has funds to settle the benefits of the retired government employees, which include four senior Additional Secretaries and 45 other officials from the state Secretariat.

Sources in the state government told IANS that the government was not in a hurry to recruit the replacements for those who are retired and who are retiring by December 2022. It is learned that the state has now a total of only 9 lakh government employees instead of the sanctioned strength of 15 lakh. While this huge deficit in the number of government employees may cause administrative difficulties, the DMK government will not be posting new hands all at once and will conduct recruitments in a phased manner.

ALSO READ: ‘India accords top priority to deepening ties with Africa’

Previous Story

Developing world needs an industrial renaissance: India

Next Story

Reliance bets big on toy industry

Latest from India News

India, Namibia to Boost Ties During Modi Visit

This will be the first visit of Prime Minister Modi to Namibia, and the third-ever Prime Ministerial visit from India to Namibia….reports Asian Lite News Prime Minister Narendra Modi’s forthcoming visit to

Quantum Leap Secures India’s Edge

The Minister said India has entered a new quantum era, set to transform future warfare….reports Asian Lite News India has taken a major leap in defence and cyber security by successfully demonstrating

India’s Growth Defies West Asia Tensions

The deepening crisis in West Asia, particularly between Israel and Iran, has had little to no visible impact on India’s economic trajectory or its export performance….reports Asian Lite News The limited trade

FM Sitharaman Embarks on Three-Nation Tour

She is leading the Indian delegation from the Department of Economic Affairs under the Ministry of Finance….reports Asian Lite News Union Finance Minister Nirmala Sitharaman commenced her official visit to Spain, Portugal,
Go toTop

Don't Miss

India Abstains From UN Vote, Seeks Condemnation of Hamas Attack

It is pertinent to note that India was in favour

SAD’s Chandigarh candidate quits party

Hardeep Singh refuted when asked if he would join any