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Age-Friendly Budget
 

GOOD NEWS FOR SENIOR CITIZENS

Budget 2008 brings with it some relief for Senior citizens. Here are some highlights:

          For senior women citizens, the income tax limit increases from Rs. 1.95 lakh to Rs. 2.25 lakh.

          Three schemes to be introduced for providing social security to unorganized sector workers.

          A national programme for the elderly to be started at a cost of Rs. 400 crore.

          Rashtra Swasthya Beema Yojana to start from April one in Delhi and Haryana. Rs 30,000 for each family belonging to unorganized sector.

For over over a decade we have been writing to the Union Finance Minister to keep the welfare of the Aged in mind while drafting the Union budget. This sustained advocacy has led to a visible increase in the allocation for Senior Citizens. HelpAge is a member of the National Council of Older Persons and also part of the draft committee for the 5-year plans.

 
A financial climate has been created that recognises the needs of the elderly. Some of its manifestations are the following:
 
In recent years, banks have begun to give higher rates of interest to savings of older people.
Tax breaks for Senior Citizens have grown.
Special investment instruments, with higher yields, have been created for older investors.