All government pensioners and social welfare recipients will experience a five percent increase in their monthly allowances, building on last year’s 15 percent increase. Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, announced this decision as part of the government’s efforts to alleviate financial burdens for citizens amidst ongoing economic challenges.
The additional funding of $220 million represents an increase of $10 million from previous allocations. Prasad mentioned that social welfare allowances, pensions, and aftercare payments were previously raised by 15 percent across the board, with those over 70 seeing a whopping 25 percent increase.
Moreover, members of the Aftercare Fund will receive an additional $0.8 million specifically for medical allowances. The government is also maintaining its public-private partnership under a free medical scheme, with over 64 general and dental practitioners providing complimentary services to citizens.
Recent initiatives include targeted support for individuals earning less than $30,000 annually and specific provisions for social welfare pensioners and kidney dialysis patients, where a total of $26 million has already been dispersed. Professor Prasad emphasized that the government will continue to review funding in the upcoming financial year to mitigate any abuse of the system.
This budget strategy is part of a wider approach that encompasses increased investment in social welfare, agriculture, health, and education to enhance overall living conditions for the populace.
This positive measure aims to provide a crucial lifeline for vulnerable citizens who rely heavily on such support, demonstrating the government’s responsive action to public needs and economic realities. Furthermore, these efforts signal hopeful steps towards maintaining stability and improving the quality of life for many individuals and families across the nation as they navigate ongoing financial challenges.
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