A bonanza is in store for India's past Test cricketers and umpires. 174 of them will receive monthly pension of Rs 5,000 for life, from this month.

Overall, the Board of Control for Cricket in India will spend in excess of ten million [one crore] each year on their pension plan.

The beneficiaries are expected to receive their cheques by April 30.

The special gesture comes in the wake of the BCCI's Platinum Jubilee celebrations this year.

BCCI treasurer Kishore Rungta told rediff.com that mega stars Sachin Tendulkar and Sourav Ganguly too are eligible for pension but only once they retire.

The scheme, which the Board has been trying to put together for sometime now, will finally see the light of the day and there is a broad spectrum of cricketers and umpires who have welcomed it.

"That's not bad; it will come as a relief to so many cricketers," remarked former Indian captain Bishen Singh Bedi, just back from United Arab Emirates where he did television commentary on the Indo-Pak series.

The monthly stipend will come as a big relief to former cricket legends like Mushtaq Ali and Salim Durrani who have little financial support coming their way.

For the likes of Bhagwat Chandrashekhar, the mystery leg-spin bowler whose fastish googlies bamboozled Test batsmen around the world, the pension would be a great help.

The list, however, does not include cricketers who have represented India in One-Day Internationals alone, like Reetinder Singh Sodhi or Ramesh Powar.

It also does not include scores of Indian umpires who have officiated only in One-Day Internationals.

Also omitted from the list is former India captain Mohammad Azharuddin, who has been banned for life following allegations of match-fixing.

His benefit purse, running into a few crores, has been withheld by the BCCI.

The case is reverse with Ajay Jadeja, who was banned for five years for similar reasons. Jadeja's ban was revoked by a court. He even captained North Zone in Duleep Trophy this year.

Jadeja, according to a BCCI spokesperson, will be eligible for the pension.

The Board has also clarified that the monthly pension will be provided to Test cricketers and umpires as long as they are alive.

The Board, it is believed, has adopted this sympathetic attitude towards players and umpires after a few distressing incidents came to light in recent years.

The most famous was that of former India captain Gulab Ramchand, who was financially handicapped when he died last year, although the Board did extend Rs 200,000 to him towards medical remuneration.