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:

The group was taken for an exposure visit to Dwarka where they met another women's group working on rights-based issues. This visit supported HelpAge's efforts to broaden the agenda of the group and encourage them to address issues other than savings and credit.

• 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.