Thursday, March 3, 2011

Budget for 2011-12: Senior Citizens Stand to Gain



                             It is gratifying to note that the Central Government has announced the following concessions to the SENIOR CITIZENS in the General and Railway budgets

For the year 2011 – 2012 Presented to the parliament.


General Budget:  1.The eligibility age for senior citizens has been lowered from the present 65 yrs to 60 yrs for purpose of assessment of income tax as well as for drawing Pension under Indira Gandhi National pension scheme. Hopefully this will be made applicable to all the other concessions at the state level too.


                           2. For senior citizens aged 80 yrs and above, the central govt's share of pension under Indira Gandhi National Pension Scheme is increased from the present Rs200 to Rs500.


                           3. The exemption limit for Income Tax for senior citizens has been increased from Rs.2.4 lakhs to Rs.2.5 lakhs. For senior citizens of age 80 yrs and above has been increased to Rs.5 Lakhs.


Railway Budget (1) The concession in Railway tickets is increased from the present 30% to 40%for men senior citizens (2) For women senior citizens the eligible age limit is reduced to 58 yrs


                     The above concessions though falling short of our demands are still welcome as they indicate that the central govt has taken note of our demands and realized the necessity to do something for the senior citizens.


                     In this connection, with all humility we would like to inform you that the All India protest day which was  organized on the 16th August of last year, the various appeals and representations which we and the All India Senior Citizens Confederation submitted to the Prime Minister, UPA Chair person Mrs Sonia Gandhi, Finance Minister Sri Pranab Mukherjee, Railway Minister Kum.Mamata Banerjee  and others and the personal meeting  with Smt Sonia Gandhi at  New Delhi  had a definite impact and must have influenced the central Government in doing at least this much.


                    Sri R N Mital and all our brethren who struggled hard in representing the matters to higher ups deserve our grateful thanks. WELL DONE CO-SENIOR CITIZENS CONGRATULATIONS. Let us not rest on these small results. There is a strong struggle still ahead. LET US UNITE AND ACHIEVE STILL BETTER RESULTS


                           V Nageswara Rao, Secretary General, APSCCON


This is write up by our friend Sri V Nageswara Rao, Secretary General APSCCON. My comments on the budget:

Firstof all I fully agree with Sri Nageswara Rao that this  chnage in attitude has come about only because of our Senior Citizens National Protest Day observed on 16th August and later follow up.

The central Budget is very welcome as it benefits a large number of persons right from 60 years. That was our primary demand. Concessions shown to 80+ may not mean much as number of persons above 80 having 5 lakhs annual income will be very small. Introduction of Direct Taxes code next year will make 10 Lakhs per annum as tax free income. This is an indirect step towards that goal. The Railway budget is commendable.  Personally I am disappointed that nothing is mentioned about Health Insurance; Long ago four Public sector Insurance companies were asked to come up with some special schemes suitable for us seniors. I was eager hear some announcement to that effect. Any how revision of NPOP is yet to be done. Let us wait and see.


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