Several states have exited the defined contribution-based New Pension Scheme in favour of the old defined benefits-basedOld Pension Scheme (OPS) and opposition parties have made reinstating the latter a campaign issue in the Gujarat and Himachal Assembly elections. But as with the One Rank One Pension scheme that was implemented after strong protests from armed service personnel, a reversion to the OPS will be unsustainable for states in the long run, the top edit argues. Read it here
In other views:
A K Bhattacharya argues that instead of reducing tax rates, Budget 2023 should take steps to reverse