The Union Budget 2023-24 on Wednesday allocated Rs 28,138 crore to meet the requirements on account of revision of armed forces pensioners/ family pensioners under the One Rank One Pension (OROP) scheme.
The Budget marked an increase in the allotment for Ex-Servicemen Contributory Health Scheme (ECHS) with Budget Estimates of Rs 5,431.56 crore in FY 2023-24 as against Rs 3,582.51 crore in FY 2022-23.
This enhancement will ensure 'cashless health service' and improved 'service delivery' to veteran force members and their dependents across India.
The Union Budget has also provided Exempt-Exempt-Exempt (EEE) status to the Agniveer Fund.
"The defence pension budget registers a notable jump of 15.5 per cent in FY 2023-24. In absolute terms, this amount is Rs 1,38,205 crore in BE 2023-24 against Rs 1,19,696 crore in BE 2022-23. Further, RE (revised estimates) 2022-23 allocations at Rs 1,53,415 crore records a significant jump of 28 per cent, amounting to Rs 33,718 crore. This includes an amount of Rs 28,138 crore to meet the requirement on account of revision of armed forces pensioners/family pensioners under the One Rank One Pension (OROP)," said a statement
--IANS
miz/arm
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app