Lagatar24 Desk
New Delhi, March 24: Union Finance Minister Nirmala Sitharaman on Friday announced that a new committee will be set up under Finance Secretary to look into the National Pension System (NPS) for government employees, amid the debate over certain Opposition-ruled states adopting the Old Pension Scheme (OPS).
The committee would be established to look at the pension system in order to fulfill the demands of employees while also preserving the budgetary responsibility of the nation, Sitharaman said in a statement made during the Lok Sabha’s discussion and passing of the Finance Bill, 2023.
She stated that the Finance Secretary will serve as the committee’s chair. Sitharaman introduced the Finance Bill 2023, which was ultimately approved by voice vote despite loud protests from opposition lawmakers calling for a JPC investigation into the Adani situation.
“I raise to move the bill to give effect to financial proposals of the central government, for the financial year 2023-24 be taken into consideration,” Sitharaman said addressing the Parliament.
“The bill actually brought 10 main provisions that are beneficial for the middle class and the community as a whole, and to do ease of business. But 11 new ones are being brought now after the stakeholder consideration, which has helped to improve, that the Finance Bill better represents our society,” she added.
The Finance Minister said that a new committee is being formed to look at the issue in light of the desire for improvements to the pension system. According to Sitharaman, the Reserve Bank of India (RBI) would investigate putting credit card payments for international travel under tax collection.
