Grant more medi-benefits this budget: Senior citizens

Budget 2010 gave senior citizens a health booster in the form of a uniform,  concession of 5% duty on all medical appliances. Currently they enjoy a tax exemption for an income limit of Rs 240,000.

Current tax slab for senior citizens 

Taxable income (in Rs)	Rate (%)
Up to 240,000	Nil
240,001 - 500,000	10
500,001 - 800,000	20
800,001 upwards	30*

 

 

 

 

 

 

The senior citizens' wish list for the Finance Minister for budget 2011 is rather long this time.

According to a majority of them, the senior citizen's age limit should be counted from 60 instead of 65. Complains Manpreet Singh, 65, "When a railway concession is granted from 60 years, why can the government not allow the same for other schemes for senior citizens too."

They hope that the FM will lower the minimum age limit for senior citizens this budget.

Another expectation is of tax exemption from pension money. Senior citizens also want the government to lower the maturity period of pension schemes. "The maturity period for most of the pension schemes should be lowered to two years," adds Singh.

Additional mediclaim benefits or insurance benefits is another prominent feature in the senior citizen wishlist .