budget 2024 Latest Update – Finance Minister Nirmala Sitharaman is going to present the budget for 2024 in the country in a few days. Everyone is hopeful of this budget. That there will be a big announcement for them. A report has revealed that 50 percent guarantee can be stamped on National Pension Scheme (NPS) pension for government employees. Let us know in the news below how much salary the employees will get every month on retirement.
The full Union Budget for the year 2024 will be presented in the Lok Sabha on July 23. Finance Minister Nirmala Sitharaman will present the budget for the first time for the coalition government formed in the country. This budget is expected to focus on employment, women, agriculture and rural development. Apart from this, the central government can also make a big announcement regarding central employees.
The government is expected to announce 50 per cent guarantee on NPS pension for central employees. The central government wants to address the concerns of the employees, so it wants to give a pension guarantee of 50 per cent on the last salary as pension to the central employees on the National Pension System.
Committee was formed
Let us tell you that after the announcement of Finance Minister Nirmala Sitharaman in 2023 last year, a committee was formed under the leadership of Finance Secretary TV Somanathan. The purpose of this committee was to find ways to improve pension benefits under the National Pension System without returning to the Non-Contributory Old Pension Scheme. Let us tell you that last year it was done after some states announced to return to the old pension scheme, although the central government has refused to return.
You will get this much pension every month
It is possible for the Centre to give a 40-45 per cent guarantee, but politically, it does not address the concerns of employees who have been working for 25-30 years. Therefore, the Centre is considering giving a 50 per cent guarantee.
After the pension guarantee is approved, employees who retire on a final salary of Rs 50,000 will be paid Rs 25,000 as pension every month. However, the working hours of the employee and any withdrawals made by the employee from the pension fund will be adjusted.
