Restoration of the Old Pension Scheme (OPS) by some states may temporarily save cash flows for the state governments but obviously it postpones the problem to a future date and makes the situation somewhat unsustainable or unstable, said Chief Economic Advisor V Anantha Nageshwaran. In an exclusive interview with ANI, the CEA said, "We need to defer to the views of experienced former policymakers like Montek Singh Ahluwalia, who have already opined on this matter. Reserve Bank of India (RBI) has also expressed its concern about OPS. OPS may temporarily save cash flows for the state governments, but obviously, it postpones the problem to a future date and makes the fiscal situation unsustainable or unstable."
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