Second Pinarayi Vijayan govt has spent Rs 43,653 crore on welfare pensions: Minister K N Balagopal

Thiruvananthapuram: Kerala Finance Minister K N Balagopal on Thursday said that the second Pinarayi Vijayan government has spent Rs 43,653 crore on welfare pension distribution.

The minister, in a statement, said that the social security pension for the month of October will be distributed from October 27 onwards and Rs 812 crore has been allocated for this.

He said that 62 lakh people will get Rs 1600 each as social security pension.

Of them, 26.62 lakh beneficiaries will get the amount directly in their bank accounts and others will receive it at their homes through cooperative banks, Balagopal's statement said.

He further said that the state government has allocated Rs 24.21 crore in advance towards the central share of the National Pension Scheme to be paid to 8.46 lakh beneficiaries.

This amount will be credited to the bank accounts of the beneficiaries through the central government's Public Financial Management System, the statement said.