'Major step backwards,' RBI article warns states reverting to the old pension scheme | Mint

As a number of states are reverting to old pension schemes, an RBI article has called the move to be a ‘major step backwards’ in managing fiscal deficit. It also said that OPS may take the fiscal stress of states to “unsustainable levels" in the medium to long term. The article, written by Rachit Solanki, Somnath Sharma, R K Sinha, S R Behera and Atri Mukherjee, highlighted that the cumulative fiscal burden in the case of the Old Pension Scheme …