Relief for Senior Citizens without pension

Many of the Retired people from the Private Sector do not have any pension form their employees. They are totally dependent on the Income generated through their investments. With the Inflation slowing down according to Government figures (but the price of all commodities used by common man increasing disproportionately) and the interest rate coming down, these retirees are one of the hardest hit. With no Forum to address the grievances they always suffer in silence. Why can't some scheme to address the problem be made. Some suggestions are
1. Interest income earned for such people who do not have pension or any other income be exempt from Tax upto Rs 5 lakhs p.a.
2. Special investment opportunities for such people with a Tax free return of 8% without limits. Such investments can be used for Infrastructure like Railways, Road etc. more  

View all 240 comments Below 240 comments
Whether these shall include rag pickers and our domestic lelps who serve us, because they are not getting any pension. more  
Dear Mr. Y R Grover,
I agree. kindly sign the Petition and add your suggestions please. more  
Dear Mr. Grover I want to clarify that exemption on intt, income is available up to Rs.10000/-on intt, earned on Saving Bank A/c only not on other deposits. more  
 Dear Mohit  Pande Relief  For Sr Citizens Should Come By Way Of Tax Exemption Limit Being Raised From Present 3 Lakh To Minimum 5 Lakh Rupees As Also Raising Of Tax Exemption Limit On Interest Income From Bank Deposits From Present Rs10,000/- Only To Rs1,00,000/- Pension Or No Pension ! more  
IS THIS THE LESSON - Don't borrow just a few lakhs from Bank and default, but will be chased by the bank. Borrow in thousands of Crores and default, you can get away!!!! more  
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