Submit Articles A Collection of Informative and Interesting Articles  
 
HOME WANT AN ACCOUNT? SUBMIT ARTICLES TOP AUTHORS Debt Collections (Advt.)
 

Financial Assistance to Senior Citizens in India

BY: gunda ramesh babu | Category: Finance | Submitted: 2010-12-11 19:51:33
       Author Photo
Article Summary: "Senior citizens are reservoir of knowledge of a nation. They should be honored like a guest. The national social assistance programme came into effect from 15th august, 1995. NSAP is a programme for the poor households..."


Share with Facebook Share with Linkedin Share with Twitter Share with Pinterest Email this article




The national social assistance programme came into effect from 15th august, 1995. NSAP is a programme for the poor households. The fulfillment of this principles enshrined in article 41 and 42 of the constitution of India.

• The national old age pension scheme covers older persons/destitute for whom i.e., they did not having any source of income or financial support from their families. At present 50% of the older persons are covered in this scheme. The state governments are advised to add some amount as their contribution in the federal set up. During 10th five-year plan an 110,793,860 elderly covered and US $ 1022.20 million approx. were incurred on this count.

• Presently persons of 60 years of age are entitled for 30% concessions in train fare in all classes. There are different airlines providing 45% to 50% concession in air journey to senior citizens.

• Older persons who are above 65 years of age also enjoy income tax rebate up to 15,000 of actual tax with provision for deduction of Rs.20,000 spent on account of medical insurance premium and Rs.40,000 spent on medical treatment from taxable income. Senior citizens are exempted from income tax up to 1.95 lakh as per the union annual budget, 2007.

• Banks are providing 0.5%-1percentage additional interest to older persons of 65 years and above on fixed deposits. The public facilities for the elderly are initiated by the government, which includes reservation of seats for elderly in the public transport, railways and airways.

In India, central government and state governments carry out the safety net programmes. Policy framing, financing decisions are taken by central government and policy implementation by state governments. Both governments will contribute the financial resources. The government presently carries the following programmes in order to face the crisis and improving the quality of life style of an Indian citizen. In this paper, an attempt has been made to study about the old age pension schemes available in India.

About Author / Additional Info:

Comments on this article: (0 comments so far)

Comment Comment By Comment Date

Leave a Comment   |   Article Views: 2537


Additional Articles:
•   Where Do Computer Viruses Come From and How They Attack Your PC or Laptop

•   The World Need Fear Nothing But Pakistan's Nihilism

•   Car Dealer Business Made Easy

•   Patience a Weapon to Win the Race


Latest Articles in "Finance" category:
•   DEMYSTIFYING THE ONTOLOGY OF TAXATION RULINGS IN THE GAMBIA: PART III

•   DEMYSTIFYING THE ONTOLOGY OF TAXATION RULINGS IN THE GAMBIA

•   Why is Wheeler Insurance Renewal Important and Beneficial?

•   Turn Your Skills Into MONEY

•   I'm Giving You a Raise

•   Public Sector: A Pride to Say Or a Price to Pay....

•   Internet as a Source of Income



Important Disclaimer: All articles on this website are for general information only and is not a professional or experts advice. We do not own any responsibility for correctness or authenticity of the information presented in this article, or any loss or injury resulting from it. We do not endorse these articles, we are neither affiliated with the authors of these articles nor responsible for their content. Please see our disclaimer section for complete terms.
Page copy protected against web site content infringement by Copyscape
Copyright © 2010 saching.com - Do not copy articles from this website.
| Home | Disclaimer | Xhtml |