Kerala's Onam Gift: Doubling Pension Benefits for August

In celebration of Onam, Kerala's Finance Minister K N Balagopal announced a double pension payment for August, benefiting 62 lakh people. With Rs 1,679 crore allocated, each beneficiary will receive Rs 3,200. Distribution begins August 23, through bank transfers and home delivery, including arrears and central government contributions.

In a move to celebrate the Onam festival, Kerala is doubling its pension distribution for August, according to a statement from the state's Finance Minister, K N Balagopal. The initiative will benefit 62 lakh pensioners, who are set to receive Rs 3,200 each.

The state government has allocated Rs 1,679 crore for the initiative, ensuring that the pensions are released as two instalments, including one instalment of arrears. The distribution is set to commence on August 23, with direct bank transfers for 26.62 lakh beneficiaries and home delivery for others facilitated by cooperative banks.

Additionally, under the National Pension Scheme, the federal government will contribute to 8.46 lakh beneficiaries. Moreover, the state has approved an advance payment of Rs 48.42 crore, which will be processed through the central government’s Public Financial Management System, as per the official announcement.