Bhubaneswar, Jan 19 (IANS): The Odisha government on Saturday announced a hike in the social security pension under Madhu Babu Pension Yojana (MBPY) for 48 lakh beneficiaries.

Chief Minister Naveen Patnaik announced the hike during Ama Gaon Ama Vikas programme here.

As per the new announcement, the pension holders will get a revised pension of Rs 500 per month against Rs 300 while people aged over 80 years will get Rs 700 per month instead of Rs 500.

About 48 lakh beneficiaries, including old men, women, physically challenged, widows and destitute women in the state, would receive the increased old-age amount with effect from February 15, said a statement from Chief Minister's Office.

"My government aims at providing social security to all genuine beneficiaries under MBPY. Five lakh additional beneficiaries have been included under the scheme recently. With this, total 48 lakh people will be benefited under the scheme," said the Chief Minister.