Re: NEWS: BJP's populist pension scheme criticised for financial mismanagement

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<<  From Pamela D'Mello  >>

<<  Life Insurance Corporation's pension scheme worked out with the Goa
government for an estimated Rs 2000 million, has been sharply critiqued by
opposition,  who demanded that the scheme's financial and other documents be
made public.  >>

The role of the Opposition is to oppose.  This pension scheme seems far
superior to the one mooted earlier where funding was to come from a State
administered Lottery.


<<  The much publicised populist Dayanand Social Security Scheme, announced
as a pre-election measure in 2001, has benefitted the Life Insurance
Corporation far more than the state or its beneficiaries, opposition leaders
said here.  >>

But naturally.  Insurance companies are not in the business for charity.


<<  Goa has paid LIC a Rs 400 million premium on the scheme, but only Rs 110
million has been disbursed thus far. Paying premiums based on calculations
that people would live until 78 was absurd when life expectancy is
calculated at 62 for an average Indian, Congress MLAs pointed out,
questioning the scheme's financial management. >>

Life expectancy is 62?
see GOACOM DAILY NEWS CLIPPINGS April 22, 2003
WILFRED DE SOUZA TO TURN 76: Dr Wilfred de Souza Saligao MLA and president
of the Nationalist  Congress Party, Goa, will celebrate his  76th birthday
on 23 April. (GT)


<<  Earlier queries were raised about commissions that have accrued from the
scheme. Besides, funding for similar populist schemes seen more as vote bank
creation handouts, has doubled the state's public borrowing by Rs 9000
million in just two years of the current BJP regime.  >>

Social Security and Old Age Pension Schemes are Populist?


<< An embarassed government claimed negotiations were still on  with the LIC
to
lower premiums rates, and refused to divulge details yet.  >>

Excellent strategy to compel LIC to reduce the premium rates?


<<  Of the 65,000 applicants so far, surprisingly routed through MLAs rather
that the state's offices, some 30,000 have started receiving the Rs 500
monthly stipend, with a promised 5 % annual hike. >>

Where do the MLA's submit the applications handed to them?


<<  Officially, Goa claims 54,000 people live below the poverty line --- 4 %
of its population. But the DSS dole is designed to extend to a wide swathe
of weaker self employed persons in agriculture, plantation, fishing, and
transport sectors --- whose numbers could run into lakhs.  >>

That's what Social Security is all about!


<<  Bogus applications have already become a major concern. 20,000 more
applications than the estimated state's population in the qualifying 60 plus
age group were received, government conceeded, promising to run a
door-to-door survey to ascertain genuine candidates.  >>

So what's new? Misuse of benefits by a few does not mean that the benefits
themselves should be stopped.  Adequate legal provisions exist to remedy
this misuse.


<<  Meanwhile, opposition reiterated its charge that implementation is being
selectively slowed down for their nominees.  >>

Opposition MLA's ignorant of the Scheme's financial and other aspects are
submitting applications for their nominees?


<<  Last week Congress MLAs pointed to discrimination against minority
community applicants whose baptism certificates were rejected as independent
proof of birth dates --- never a problem under earlier regimes.  >>

The Births & Deaths Registration Act does not apply to the minority
community?


Lawrence