Jaipur: The union minister Nirmala Sitharaman has refused the demand of the Rajasthan government for the release of funds deposited towards the New Pension Scheme (NPS).
“I don’t want to comment on the issue of the Old Pension Scheme (OPS) but the state government has promised it on its own and now expects that the fund should be released to the government. It should not be expected. It is the money entitled to the employee and should be given to him only,” said the finance minister while addressing a press conference in Jaipur on Monday.
Employer cannot approach to get back the funds
The officials of the finance ministry said that the funds deposited with NPS are under a contract between the employee and NPS Trust and the employer cannot approach to get back the funds under the prevailing rules. The officers said that implementing the OPS is a bid to shift the liability as the pension to the employees under the NPS would be payable after 2030.
Rajasthan CM Ashok Gehlot had recently hinted at approaching the Supreme Court for the release of funds deposited towards the New Pension Scheme (NPS) and had said, “Our money is deposited in NPS…even after implementing OPS, the central government is not releasing it, now, if it doesn’t, we will go to the Supreme Court, but we will take it back for OPS.”
On the question of freebies and populist schemes, the FM said that it is okay if the financial condition of the state permits and provisions have been made for announcements in the budget but one should not put the burden on others.
Petrol and Diesel under GST
On the issue of bringing Petrol and Diesel under the ambit of GST, the minister said that it is to be decided by the GST Council.
“It is the GST Council who has to take the call on it. The Central government has made it clear that it will put it as an item in the council but let the other parties take the initiative and tell the rate and let there be an open discussion on it,” said FM.
She also accused the other parties of not slashing their taxes on petroleum products and said, “I had listed out the states that said that they cannot cut their taxes and now they are questioning the Central government on this issue.”
Crypto Currency
On the legislation on Crypto Currency, the minister said that the government is working on it and in the meantime, a campaign is going on to sensitize the youth about the risk factors involved with this.
