Chennai,4th March 2013
This year's budget has been a bag of mixed reactions for the middle class.With the income tax slabs remaining unchanged,a tax credit of Rs 2000 for income under Rs 5,00,000 p.a. should bring some respite among the taxable population.This may not bring as much cheer to the ageing segment of our population. With 7.5% of the total population being Senior citizens (2010 census),we need to have stronger measures in place to ensure that returns on investments of our seniors are safeguarded against inflation. According to Col.(Veteran)
With the Indian Middle class expected to grow exponentially, lack of well-defined social security measures as compared to the West may add more strain to our greying population in the near future.Our seniors would soon need a proper action plan on assisted living options to strike a balance between the young and old of our society and having a seniors-friendly financial budget is the only way forward.