There needs to be appropriate Tax exemption limits for the Senior Citizen for a dignified living! Employees who have retired in 2006 have not been the benificiary of massive Pay revision, enhancement of Gratuity limits, higher amount of pension due to increased pay arising out of pay revision. The purchasing power of these retired employees (prior to year 2007) is much less and are living in the same market where Bus fare (increased in some routes by more than double - Noida to Dhula Kuoan has increased from Rs 12 to Rs 29), milk, electricity, water, all vegitable and grocery items have enormously increased and on the contrary, the Bank Deposit rates have drastically reduced!
Can we expect some more relief in Income Tax and better Bank Interest rates for the elderly persons (present slab of extra 0.5% has practically no meaning and it should be atleast 2% more - like the Interest rates currently applicable for the retired SBI employees)
