Why Everyone Loves The Old Pension Scheme
THE WEEK|April 17, 2022
With several states preparing to bring back the old pension scheme, the flaws in the market-linked National Pension System have come under the scanner
Pratul Sharma
Why Everyone Loves The Old Pension Scheme

Rajasthan Chief Minister Ashok Gehlot has let out a genie. His government recently announced that it was restoring the old pension scheme (OPS) for its employees, thereby discarding the contributory scheme that had come into effect after India initiated bold pension reforms nearly two decades ago. Several state governments, especially those ruled by parties opposed to the BJP-led Union government, are preparing to follow Gehlot’s lead.

Economists have pointed out that such a populist move would be retrograde, as it can drain state finances. Several states have latched on to the idea, though. In Congress-ruled Chhattisgarh, where the party’s flagship income guarantee scheme NYAY is being implemented for farmers and the landless, the restoration of OPS is set to become a pillar of the party’s evolving alternative economic model. The Congress has already promised to bring back OPS if it comes to power in Himachal Pradesh, where elections are due later this year.

DMK-ruled Tamil Nadu and YSR Congress-ruled Andhra Pradesh have also promised to revert to OPS. The Samajwadi Party’s campaign promise to restore OPS in the run-up to the Uttar Pradesh assembly polls helped it win a majority of postal votes (51 per cent) cast by government employees. For political parties, the electoral gains to be had from backing OPS seem evident now.

Diese Geschichte stammt aus der April 17, 2022-Ausgabe von THE WEEK.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der April 17, 2022-Ausgabe von THE WEEK.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS THE WEEKAlle anzeigen
William Dalrymple goes further back
THE WEEK India

William Dalrymple goes further back

Indian readers have long known William Dalrymple as the chronicler nonpareil of India in the early years of the British raj. His latest book, The Golden Road, is a striking departure, since it takes him to a period from about the third century BC to the 12th-13th centuries CE.

time-read
3 Minuten  |
November 17, 2024
The bleat from the street
THE WEEK India

The bleat from the street

What with all the apps delivering straight to one’s doorstep, the supermarkets, the food halls and even the occasional (super-expensive) pop-up thela (cart) offering the woke from field-to-fork option, the good old veggie-market/mandi has fallen off my regular beat.

time-read
2 Minuten  |
November 17, 2024
Courage and conviction
THE WEEK India

Courage and conviction

Justice A.M. Ahmadi's biography by his granddaughter brings out behind-the-scenes tension in the Supreme Court as it dealt with the Babri Masjid demolition case

time-read
2 Minuten  |
November 17, 2024
EPIC ENTERPRISE
THE WEEK India

EPIC ENTERPRISE

Gowri Ramnarayan's translation of Ponniyin Selvan brings a fresh perspective to her grandfather's magnum opus

time-read
4 Minuten  |
November 17, 2024
Upgrade your jeans
THE WEEK India

Upgrade your jeans

If you don’t live in the top four-five northern states of India, winter means little else than a pair of jeans. I live in Mumbai, where only mad people wear jeans throughout the year. High temperatures and extreme levels of humidity ensure we go to work in mulmul salwars, cotton pants, or, if you are lucky like me, wear shorts every day.

time-read
2 Minuten  |
November 17, 2024
Garden by the sea
THE WEEK India

Garden by the sea

When Kozhikode beach became a fertile ground for ideas with Manorama Hortus

time-read
4 Minuten  |
November 17, 2024
RECRUITERS SPEAK
THE WEEK India

RECRUITERS SPEAK

Industry requirements and selection criteria of management graduates

time-read
3 Minuten  |
November 17, 2024
MORAL COMPASS
THE WEEK India

MORAL COMPASS

The need to infuse ethics into India's MBA landscape

time-read
5 Minuten  |
November 17, 2024
B-SCHOOLS SHOULD UNDERSTAND THAT INDIAN ECONOMY IS GOING TO WITNESS A TREMENDOUS GROWTH
THE WEEK India

B-SCHOOLS SHOULD UNDERSTAND THAT INDIAN ECONOMY IS GOING TO WITNESS A TREMENDOUS GROWTH

INTERVIEW - Prof DEBASHIS CHATTERJEE, director, Indian Institute of Management, Kozhikode

time-read
3 Minuten  |
November 17, 2024
COURSE CORRECTION
THE WEEK India

COURSE CORRECTION

India's best b-schools are navigating tumultuous times. Hurdles include lower salaries offered to their graduates and students misusing AI

time-read
8 Minuten  |
November 17, 2024