Budget 2023-24

Social Welfare benefits increase

June 30, 2023 10:55 am

[Source: GIGH]

The Ministry of Women, Children, and Poverty Alleviation budget has increased by $52.5 million, and now stands at $200 million.

Finance Minister, Professor Biman Prasad says those between the ages of 65 and 69 will have their monthly allowances increased from $100 to $115.

There will be an increase in the monthly allowance for those 70 years of age and older, and those who are on the social pension system will receive a 25% increase.

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Professor Prasad adds this means that the monthly allowance will increase from $100 a month to $125 a month, effective from August 1st, which is expected to benefit over 90,000 people.

The Minister adds $78.2 million has been allocated for the Social Pension Scheme, an increase of $23.2 million, to cater to the needs of the 54,200 senior citizens.

“The military regime in 2011 unilaterally and illegally reduced the pension rates for many FNPF pensioners and broke the contractual arrangement between the fund and the pensioners. They went even further to pass a law to restrict those pensioners from challenging that in court. It’s been over a decade, Mr. Speaker, and these pensioners have not received justice. Today we are going to correct this wrong and give some justice to the more than 1500 pensioners who were put on reduced pension rates.”

$100,000 has been allocated to cater for the establishment of a new Department of Children.

In addition to this $19.9 million has been allocated for child protection allowance, an increase of $6.2 million.

The Minister says $43 million is allocated to cater for disability allowance, bus fare subsidies for the elderly and the disabled, electricity subsidies for households earning below $30,000 income annually.

2023-2024 National Budget Address