Finance Minister Arun Jaitley may have ruled out the annual revision of pension demanded by agitating ex-servicemen under ‘One Rank, One Pension’.
Stressing on a sustainable pension plan, he said the government will safeguard interests of soldiers retiring at an early age through higher pensions.
Stating that annual revision in pensions do not happen anywhere in the world, Jaitley said the government was committed to OROP but the “only difficulty” is the “arithmetical translation”.
I have my own formula on what OROP means. Somebody else may have their own formula on OROP, but it has to be within reasonable and rational criteria. You can’t have an OROP where pensions are revised every month or every year.
— Arun Jaitley, Finance Minister
He said that recommendations of 7th Pay Commission for government employees was coming shortly.
In an interview on ET NOW, Jaitley equated his role to that of a house wife trying to prevent indulgence in fiscal indiscipline with his vigilance in fiscal prudence.
Ex-servicemen have been agitating for 78 days at Jantar Mantar, demanding implementation of One Rank, One Pension, including annual revision of pension.
You can’t create a liability that the future generations will have to pay. Therefore on a rational criteria OROP, we should certainly be able to implement.
— Arun Jaitley, Finance Minister
He also pointed out that if the principle of OROP is implemented as it is, other segments of the society will start demanding it as well.
In August, Railway workers had started demanding OROP for railway servicemen.
(With inputs from PTI)
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