Sep 04, 2013 17:13 (IST)
Finance Minister P Chidambaram on Pension Bill in Lok Sabha:
- I acknowledge their right voice their concerns about the bill but I am confident that they will support the bill.
- I have no doubt that when it comes to supporting the bill final, our colleagues will come around. You can't turn back the clock - 26 states have already joined the new pension scheme
- The states have over 17 lakh subscribers and cumulative contribution runs to 34,965 crores
- Accepted all standing committee recommendations save one which would have converted NPS into a current account. NPS offers a wide choice
- Every standing committee recommendation that has a bearing on the capacity to take risks has been accepted.
- We will ensure NPS is made more secure, more attractive for the subscribers. This has been with us for nine years - all this bill does is make a non-statutory authority a statutory authority.