Lucknow: Uttar Pradesh Chief Minister Akhilesh Yadav Wednesday launched his government's ambitious Samajwadi Pension Scheme under which Rs 500 each will be given to nearly 40 lakh poor families in the state monthly.
The scheme has an annual budget of Rs 2,424 crore, he said.
"This is the first-of-its-kind scheme launched in the country by any state government under which money will be transferred directly to the account of the beneficiary," Akhilesh said while launching the scheme.
"It will directly benefit around 40 lakh poor families," he added.
Under the scheme, a monthly pension of Rs 500 will be given to a beneficiary. The amount will be hiked by Rs 50 per annum up to a maximum limit of Rs 750.
The scheme, however, has riders relating to education, health and literacy.
The head of the family will be required to ensure enrolment of children in school along with 70 per cent attendance, vaccination of children up to 5 years of age and institutional delivery of pregnant women.
"The government of SP is the lone state government in the country which has fulfilled all promises made in its election manifesto," Akhilesh claimed.
"We have to complete remaining works in the next two years. I will ask SP men to help those who are not covered under the scheme," he said.
Speaking on the occasion, Chief Secretary Alok Ranjan said it is a conditional cash transfer scheme.
Vidhan Sabha Speaker Mata Prasad Pandey, PWD Minister Shivpal Singh Yadav, Social Welfare Minister Avadhesh Prasad, Rajya Sabha member Jaya Bachchan also addressed the function.