Govt Announces the Much Awaited One Rank One Pension Scheme

September 18, 2015 14:37 IST
The much awaited One Rank One Pension Scheme for veterans of the armed forces was finally implemented by the Modi government on 5 September, 2015. Defence Minister Manohar Parrikar said that the government was ready to implement the scheme even though it would lead to a huge financial burden of around Rs 8,000 crore to Rs 10,000 crore. Prime Minister Narendra Modi on Sunday slammed the previous government for not implementing the OROP scheme even though ex-servicemen have been demanding it for about 42 years. While the veterans wanted the pension to be revised every two years, the government decided a time-span of five years for the same. Credit: KBK