What do retired citizens expect from the budget 2015

BankBazaar

Next Union Budget is coming and all the sections of society are waiting with anticipation. Another most important fragment of Indian society, the retirees are hoping to get some relief this year. It is commendable that last year’s budget brought with a higher exemption of tax limit, which increased from INR 2.5 lacs to INR 3 lacs. But in the light of rising cost of living, there is still scope for improvements. Speaking of improvements, just ask your retired grand dad and he will teach you all there is to know about ‘how the government is lacking.’ Jokes apart, he may tell you some good points and what his expectations from upcoming budget are.Increase in Medical Reimbursement LimitThe retired class is of age above 60 and they are in constant financial requirement for medical conditions. Thus, the miniscule amount of INR 15,000 per year for the medical reimbursement seems funny, if costs of medical care are looked upon. This limit must be increased to atleast INR 50,000 to meet the rising costs of eye care, health care, surgery, bone ailments, etc.Increase in Tax Exemption LimitAs said earlier, the exemption limit of up to INR 3 lacs is commendable as it was increased after decades. But look at the higher inflation and then compare the over 500% increased medical bills decade ago. The tax exemption is still not sufficient, not even closely, to meet the demands of golden agers of society. It must be increased to a minimum of INR 4.5 lacs.Allowance for Senior Citizens Living Below Poverty LineEver seen an above 70 years old man, joining the line of beggars in trains and temples? The picture has become so horrendous over the years that it will take huge efforts on the part of government to improve it. A monthly allowance of atleast INR 4,000 must be allotted to senior citizens and retired class of society who are living under the poverty line and are unable to fend for themselves.Increase the PensionCurrently, the rate of pension in India is so low that a retired individual cannot depend on that amount to even feed his family. Over the years, there have been little efforts made to increase the pension. The Budget 2015 must include some significant changes in this direction.More Recruitment of Experienced Staff to Take Care of Elderly in HospitalsThe number of hospitals and trained professionals is highly irregular in the rural and undeveloped areas. More focus should be given to the medical care of retired citizens free of cost, especially in the low key areas. More wards with more beds and well equipped technology should be introduced in the clinics and hospitals funded by government. It must be kept in notice that even today, only a fraction of retired people can afford to be exclusively and lavishly treated for their medical concerns. A Brand New Policy for National RetiredIt seems that government tends to overlook this section of society, what with all the hoopla around business sectors. This needs to be changed immediately. New policies regarding the easy investment schemes for retirees, national level recreation programs and rehabilitation centers must be launched. Government Funded Retirement HousesA still new concept in India, retirement houses and assisted living arrangements for retired people must be focused upon. It must be ensured that proper medical care, healthy food, transportation, and so on has been provided to the retired class. The outer regions, small towns, rural areas etc can use the maximum help in this regard.Only the person has retired, he or she still has a lot to contribute to the society and that must not be overlooked. The above mentioned expectations are just a drop; there are a lot of things needed to be done for the upliftment of this section. Let’s hope the Abki Baar Sarkaar is working towards achieving the promises.