By Mohammed Uzair Shaikh on February 3, 2016 at 7:38 PM

New Delhi, Feb 3: One Rank One Pension (OROP) scheme will be implemented by the Centre beginning next financial year. Government has released the implementation table, revealing the cost which will be incurred by the exchequer. Although, a section of veterans is still protesting against the provisions of the pension scheme, Centre seems firm on going ahead with the version rolled out before them in September.Although, the ex-servicemen had demanded the base date to kept at April 1, 2014, Government has decided to keep it at July 1, 2014. The arrears from July 1 to December 31 will be Rs 10,900 crore. Annual recurring financial implication on account of OROP implementation at pension scale of 2013 would cost a recurring amount of Rs 7,500 crore until the next revision. (ALSO READ: One Rank One Pension: All you need to know about OROP scheme)

The amount of pension will be revised once in five years. Ex-servicemen had strongly objected to the clause, calling it ‘Five rank, one pension’. Instead, they had demanded the revision of pension at every one or two years. However, incorporating the populist demand of the army veterans would further increase the burden on the economy.

The Budget for Ministry of Defence will be increased by a significant 20 per cent. Since the pension of former army personnel is released through MoD, it will require more funds.