According to the MoS Finance in LS, the center does not have any plans to restore the old pension scheme

On Monday, Union Minister of State for Finance Bhagwat Karad informed the Lok Sabha that the government of India is not considering plans to restore the old pension scheme (OPS).

According to Karad, in a written response to a question submitted by AIMIM’s Asaduddin Owaisi, the Rajasthan, Chhattisgarh, and Jharkhand state governments have informed the Central Government/Pension Fund Regulatory and Development Authority (PFRDA) about their decisions to resume the old pension scheme (OPS).

It was announced by the state government of Punjab on November 18, 2022, that the OPS would be implemented for government employees currently covered under the National Pension System (NPS).

Karad’s report stated, “The state governments of Rajasthan, Chhattisgarh, and Jharkhand have submitted proposals to the Central government for the return of the subscriber corpus under the NPS to the respective state governments. I know that no such proposal has been received from the Punjab state government.”

“In response to the proposals of Rajasthan, Chhattisgarh, and Jharkhand, PFRDA has informed the respective state governments that there is no provision under Pension Fund Regulatory and Development Authority Act-2013 read along with PFRDA (Exits and Withdrawals under the National Pension System) Regulations- 2015, and other relevant regulations, as amended from time to time, vide which the funds, which are already deposited both in the form of the government contribution and employees’ contribution towards NPS, along with accruals, can be refunded and deposited back to the state government,” he said.

Furthermore, the Minister stated, “There is no proposal under consideration by the government of India regarding the restoration of old pension schemes.”

A separate written response from Union Minister of State for Finance Pankaj Choudhary stated, “There have been several requests to include images of freedom fighters, eminent personalities, Gods and Goddesses, animals, etc., on Indian banknotes.”

As a member of Congress, Anto Antony has asked whether the government has received any requests/representations regarding the inclusion of more images (including the pictures of Goddess Lakshmi and Lord Ganesha) on Indian currency notes. In response, Choudhary responded, “Yes, sir”.

There have been several requests and suggestions regarding images on currency notes. In this regard, the Reserve Bank of India issued a press release on June 6, 2022, clarifying that no changes are proposed to the existing currency and banknotes.” Choudhary said.


Hi, my name is Nisha and I'm an educational journalist based in India. I've always been passionate about the power of education to transform lives, and that's what led me to pursue a career in journalism focused on this area. I completed my Bachelor's degree in English from Hindu College in Delhi in 2013 and then went on to earn my Master's in Journalism and Mass Communication from the Indian Institute of Mass Communication in 2017. During my studies, I also completed several short-term courses on Education in India, Sociology, and other related subjects to deepen my knowledge in this field. I'm particularly interested in improving access to quality education in rural areas, where students often face significant challenges. I've worked on a number of initiatives to address this issue, including advocating for better policies, resources, and practices that can make a difference. As an educational journalist, I'm passionate about using my platform to highlight important issues in the education space. I've covered a wide range of topics, including the impact of technology in the classroom, innovative approaches to teaching and learning, and the challenges facing students from marginalized communities. One of the things I love most about my work is the opportunity to constantly learn and grow. I'm an avid reader and believe that reading is key to expanding one's knowledge and perspective. I'm always seeking out new ideas and insights to help me better understand the world around me. In summary, as an educational journalist, I'm dedicated to using my skills and expertise to make a positive impact in the field of education. I'm committed to improving access to quality education for all students and to using my platform to raise awareness about important issues in this area.

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