Brief by Shorts91 Newsdesk / 12:33pm on 20 Feb 2024,Tuesday India
India's NITI Aayog suggests tax reforms, mandatory savings, and housing initiatives for seniors as their population is set to reach 19.5% by 2050. The report emphasizes a national portal for senior care and advocates regulatory mechanisms for viable interest rates on senior citizen deposits. It calls for concessions for older women and recommends reassessing the reverse mortgage mechanism. Tax and GST reforms on senior care products are proposed, aiming to ease adoption and relieve financial burdens. The report also suggests utilizing CSR funds for non-affording elderly care and fostering PPP models for discounted private medical care.
