Ajeet Kumar
India is home to one in every 10 senior citizens of the world, yet the country spends a mere 0.032 percent of its GDP on them and they are subjected to neglect and isolation.
Though elderly continue to face troubles across various strata, the problem worsens when poverty is thrown in. The ongoing National Programme for Health Care for Elderly is being implemented in only 13 out of the around 600 districts of the country.
It is the best time for the government to address senior citizens' issues in the upcoming Budget as the falling oil prices have made the government's task much easier on macro-economic front, (inflation, fiscal deficit and current account deficit).
Here are some changes that the Senior citizens expect in this year’s Budget.
More room should be given for senior citizens in tax rebate. An increase in the exempted limit for the senior citizens ( above 60 years) , which currently stands at Rs 300,000 to at least Rs 400,000 would give a boost to their retirement funds.
Similarly, very senior citizens (above 80 years) who do not come under tax bracket for earnings up to Rs 5 lakh are also expecting a further increase in the exemption limit.
