New Delhi: The Congress party has launched a scathing attack on the government’s newly announced Unified Pension Scheme (UPS), accusing the PM Modi-led government of another “U-turn” driven by upcoming elections. The opposition party sees the scheme, introduced ahead of assembly elections in Haryana and Jammu & Kashmir, as a desperate attempt to appease voters and deflect criticism of the previous National Pension System (NPS).
Congress president Mallikarjun Kharge, in an X post, declared that the “U” in UPS represents the Modi government’s repeated policy reversals. He highlighted several recent examples of the government backtracking on previous policies, including rollbacks on the Long Term Capital Gain/Indexation in the budget, sending the Waqf Bill to the Joint Parliamentary Committee, and the rollback of the Broadcast Bill and Lateral Entry policies.
“The ‘U’ in UPS stands for Modi Govt’s U turns! Post June 4, the power of the people has prevailed over the arrogance of power of the Prime Minister. — Rollback in the budget regarding Long Term Capital Gain / Indexation — Sending Waqf Bill to JPC — Rollback of Broadcast Bill — Rollback of Lateral Entry We will keep ensuring accountability and protect 140 Cr Indians from this despotic government!” Kharge said in his X post.
The ‘U’ in UPS stands for Modi Govt’s U turns!
Post June 4, the power of the people has prevailed over the arrogance of power of the Prime Minister.
— Rollback in the budget regarding Long Term Capital Gain / Indexation
— Sending Waqf Bill to JPC
— Rollback of Broadcast… pic.twitter.com/DJbDoEyl6g
— Mallikarjun Kharge (@kharge) August 25, 2024
Kharge asserted that the Congress will continue to hold the government accountable and protect the interests of India’s citizens.
The UPS promises an assured pension of 50 per cent of the last drawn salary for employees who joined the service under the NPS after January 1, 2004. The scheme guarantees a minimum pension of Rs 10,000 per month after a minimum of 10 years of service, initially benefiting 23 lakh central government employees.
However, Congress argues that this change is too little, too late, and simply an attempt to regain the support of employees who have been vocal about the inadequacies of the NPS.
This move comes as several non-BJP states have reverted to the DA-linked Old Pension Scheme (OPS) in response to employee demands for a more secure retirement income. The NPS, which was implemented in 2004 for all government employees except those in the armed forces, was criticised for its reliance on contributions from both employees and the government, leaving individuals vulnerable to market fluctuations and uncertain future pensions.